Central Banks Snapping Up Gold at Near-Record Pace

So gold is not money so why do central banks horde the stuff? Wake up!

serf

http://www.bloomberg.com/news/articles/2015-11-12/central-banks-snapping-up-gold-at-near-record-pace-council-says

Central banks and other institutions boosted gold purchases to the second-highest level on record in the quarter to September as countries including China and Russia sought to diversify their foreign-exchange reserves.

Net purchases were 175 metric tons, nearing the record 179.5 tons in the same quarter a year earlier, and up from 127.9 tons in the preceding three-month period, the World Gold Council said in a report on Thursday. Still, over the first nine months central banks' net purchases dropped 6.7 percent to 425.8 tons, according to the council.