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Jan Nieuwenhuijs: Saudi central bank caught secretly buying 160 tonnes of gold in Switzerland
By Jan Nieuwenhuijs
Money Metals Exchange, Eagle, Idaho
Thursday, September 12, 2024
The Saudis have joined other Asian countries in ditching their long-term sensitivity to the gold price.
Evidence suggests the Saudi central bank has been covertly buying 160 tonnes of gold in Switzerland since early 2022, contributing to the current gold bull market.
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Although the Saudis played a key role in the birth of the global dollar standard in the early 1970s, this time around they might even become a lynchpin for its dissolution. ...
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