Gold is the future

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Central banks around the world keep stacking gold: So far this year, they’ve been buying at the fastest clip in over a decade.

“On a year-to-date basis,” says a report from the World Gold Council, “central banks have reported net purchases of 125 [metric tons]. This is the strongest start to a year back to at least 2010.”

Cant get enough

The year 2010 is a good starting point because that’s the year central banks became net buyers of gold.

Top buyers lately include Russia — which just updated its figures for the first time in a year. The Russian central bank added 31 metric tons as it continues to diversify its foreign exchange reserves out of dollars — which it can’t access after Washington froze those dollar reserves. Meanwhile, China has added 102 metric tons over the last four months.

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