Paul Buitink talks to John Reade, Market Strategist at the World Gold Council, about their annual survey with central banks. John explains why emerging markets central banks are buying record amounts whereas Western central banks don't. Reasons are to due to persistent inflation but also because of the changing world order and Western sanctions on Russian assets in 2022. John also shares why emerging market central banks most likely will keep on buying for years or even decades to come. Another important trend is the repatriation of gold. John explains why central banks are bringing back gold home. He also ponders whether there is a chance the BRICS will introduce a gold backed currency and what the impact of the presidential elections will be on gold. More info about John Reade: https://www.gold.org/who-we-are/our-leadership https://x.com/JReade_WGC Follow Paul Buitink on X at @paulbuitink Timestamps: 0:00 Intro 2:19 Why central banks are buying gold 10:23 Reported vs unreported gold transactions 13:42 How much gold do emerging markets need or want 16:34 Dutch central bank's statements on gold 19:24 Gold repatriation 23:23 Why is Ireland buying gold 25:42 BRICS gold-backed currency 33:26 Future of US dollar 36:40 US elections impact on gold 40:21 Conclusions
