Central banks have not binged on this much gold in five decades

By Rajesh Sharma and Chandrima Banerjee – Times of India

Warren Buffett called it a ‘sterile asset’. Keynes called it a ‘barbarous relic’. But gold’s run has central banks acting like it’s the only insurance that still works

The last time central banks had as much gold was almost five decades ago, in 1978, when they were holding a combined monthly average of almost 36,400 tonnes of gold.

This year, till July, they held an average of nearly 36,300 tonnes of gold, the International Monetary Fund’s data shows.