8.17.26 - Where Will Central Banks Store Their Gold?

8.17.26 - Where Will Central Banks Store Their Gold?

Gold last traded at $4,416 an ounce. Silver at $65.79 an ounce.

Goldman Asks: Where Will Central Banks Store Their Gold? -ZeroHedge

At a time when Hong Kong is ramping up its infrastructure to handle Gold reserves for central banks globally, Goldman Sachs just put out a report discussing both the recently ramped up buying of the metal by CBs and the dilemma over where to store it geographically. Perhaps GS is preparing for the inevitable rise of HK in global gold reserves held.

The picture the bank paints is one in which central banks are reconsidering both the amount of gold they own (they want more) and where they keep it. London and New York remain central because of their liquidity and financial infrastructure, but reserve managers are increasingly hesitant to rely on a single foreign custodian. At the same time, official-sector purchases are accelerating again, reinforcing the bank's view that reserve diversification is the central structural force driving gold prices.

The report, titled Precious Comment: Gold and Central Banks: Storage Dilemma; Buying Trend Picks Up covers those two main topics in short and long order amongst other areas of interest.