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Ronan Manly: Indian central bank accumulating much gold almost under the radar
By Ronan Manly
Bullion Star, Singapore
Thursday, September 30, 2021
While large one-off central bank gold purchases get a lot of media attention and the same is true for central banks accumulating gold reserves over a two- or three-month period, sizeable accumulation of gold by central banks on a month-in, month-out basis, with the exception of the Chinese and Russian central banks, tends to go almost unnoticed.
A prime case in point is the gold-buying strategy of India's central bank, the Reserve Bank of India (RBI), which almost under the radar has now become one of the world's biggest and most consistent central bank gold buyers every year for the last four years.
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Starting in early 2018 and up to the end of August 2021, over that time the RBI has added a staggering 166 tonnes to its strategic gold reserves, and now holds a claimed 724.24 tonnes of gold, making India the ninth-largest sovereign gold holder in the world, well ahead of the Netherlands (in 10th place) and within shouting distance of Japan (eighth place).
Arguably, this stealthy gold accumulation by the Indian official sector is now becoming more apparent since two of the big guns that are normally active in the central bank gold-buying market, the central banks of Russia and China, are currently taking a break. ...
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Tuesday-Friday, October 19-22, 2021
https://neworleansconference.com/wp-content/uploads/2021/08/NOIC2021_Powell.html
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
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