The sanctions on Russia has triggered a flight of capital and gold across countries. I am just surprised why US is buying so much gold given that its mostly developing countries to buffer up their own reserves so that they can trade in their own currencies.
US has USD so why is it stocking up on Gold. Someone somewhere knows the answers.
Usually yes, but in this case and ALMOST all cases recently its physically shifting gold around. Argentina moved it from Argentina to London, most global south countries are physically moving their gold to their own country (India: https://www.firstpost.com/explainers/india-gold-flying-engla..., China: https://internationalbanker.com/banking/whats-behind-chinas-...)
The sanctions on Russia has triggered a flight of capital and gold across countries. I am just surprised why US is buying so much gold given that its mostly developing countries to buffer up their own reserves so that they can trade in their own currencies.
US has USD so why is it stocking up on Gold. Someone somewhere knows the answers.