It seems there’s a few mystery buyers in the gold market, and they have been snapping up bullion tons at a time.
These unknown purchasers are none other than central banks, with the official sector having swooped in to secure a net haul of almost 150 tons of the shiny yellow metal in the third quarter—almost seven times as much as was bought in the year-earlier period.
While a number of these banks have been named, having officially reported their gold buying activity to the International Monetary Fund, a significant proportion of the sum is yet to be attributed to specific countries, due to confidentiality reasons.
