John Reade
speaker
553 appearances
2 recordings
1 series
first heard Oct 2024
last heard 10 Oct
John Reade’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Oct 2025 with 1.
Appearances
So we probably won't get to a thousand tons of central bank purchases this year, but we'll probably see a uh stronger purchases than we had seen for most of the last fifteen years.
And every time we survey central banks, which we do once a year, we've seen a greater inclination of those central banks to earn gold to add gold to their reserves or increase their gold holdings.
So the trend's not over.
Um but I think again we have to recognise.
When the price has gone up very rapidly, it can cause it to slow down.
Yeah, I mean, we don't really know what's going on in Russia.
Um uh all indications are th are based on public data that their central bank holdings are pretty flat.
We don't know what's happening to their mine production.
They are the second largest producer of gold and they can't sell it into the into the international market because of sanctions.
Um, but yet their official reserves aren't going up.
So we're not 100% sure what's going on there.
Um in the case of China, China is explicitly buying gold.
It's been adding gold to its central bank reserves, it's been importing a lot of gold for its jewelry trade and for its investment trade.
Uh the central bank purchases in China.
Um
Well, China's the biggest holder of foreign exchange reserves as a central bank, and they don't have a huge proportion of their central bank reserves and gold.
So I do think it makes sense for them to be uh continuing to add to their gold holdings.
I wouldn't necessarily read too much negative into it.
I mean, if they want to be um a potential substitute reserve currency for the US dollar at some point down the line, if you look at all the results.
Reserve currencies in the world, pretty much all of them have decent amounts of gold in their reserves.
Showing 141–160 of 553 · page 8 of 28
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