It is no secret that gold has been pounded in recent weeks. Forget about the old highs and hopes of gold going above $2,000 per ounce. Now gold bugs have to seriously contend with the possibility that gold could break under $1,000 per ounce.
What has been interesting to see is that a handful of nations are still adding to their gold reserves. After all, gold reserves are viewed as being crucial to actually putting in a real value that aims to support a nation’s currency. The decline in the price of gold has gotten even worse since the end of June, but five central banks were buyers of gold in the first half of 2015. Still, gold bugs need to consider that not all gold additions are created equally.
New data released by the World Gold Council (WGC) shows central bank purchases and holdings for the month of August. 24/7…
View original post 973 more words
Money or Debt 