Gold Demand Reaches 11-Year High | Central Banks Are Binging | The Gold Spot

Gold demand surged throughout 2022 as investors sought a hedge against raging #inflation and other economic pressures.

A recent report from the #WorldGoldCouncil revealed the sheer extent of rising #golddemand. Global purchases reached 11-year highs as demand from both retail investors and central banks shattered previous records.
The WGC report also reveals that central banks have been saying one thing and doing another. As governments tell people that fiat currencies are stable, their financial czars are scooping up #gold at record rates. Clearly, economic circumstances are direr than leaders are letting on.

Despite this record-setting demand for gold, spot prices remain relatively stagnant which points to the widespread manipulation in the paper market. Some institutional players artificially bog down #goldprices so they can buy in at lower rates.

Regardless, it’s only a matter of time before gold spot prices jump higher to match the massive demand for gold. The grim economic outlook for 2023 is only expected to fuel more growth in gold prices with some experts predicting new highs.

Watch the video to hear Scottsdale Bullion & Coin Founder Eric Sepanek & Advisor John Karow talk about the booming demand for gold, why central banks can’t get enough of it, and why the US dollar’s position as the leading reserve currency is under threat.

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