by Peter Schiff, Schiff Gold:
After a record-setting 2022, central banks continued to buy gold in the first quarter of 2023, setting a new Q1 record.
Overall, global central bank gold reserves increased by 228 tons through the first three months of 2023. This was 38% higher than the previous first-quarter record set in 2013.
Total central bank gold buying in 2022 came in at 1,136 tons. It was the highest level of net purchases on record dating back to 1950, including since the suspension of dollar convertibility into gold in 1971. It was the 13th straight year of net central bank gold purchases.