Central Banks Buy The Second Most Gold In 50 Years: A Look At Who’s Buying!

• Central Banks Buy The Second Most Gold In 50 Years: A Look At Who’s Buying! 
  by Tyler Durden, www.zerohedge.com
  In 2014, the price of gold, expressed in US Dollars, went absolutely nowhere (even if its increase in RUB – not to mention many other rapidly devaluing currencies – was a stark surge of 83%). The reason: for the second year in a row, concentrated selling of “paper” gold which saw some 159 tonnes of outflows from gold-backed ETFs, primarily in the US. This however, is a substantial slowdown from the 880 tonnes of gold ETF outflows in 2013, selling which started in earnest when the price of gold peaked just shy of $2000 on September 6, 2011… the day the SNB instituted its now failed currency control attempt to set a 1.20 EURCHF floor.
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  Furthermore, ever since the SNB’s stunning defeat in the currency wars one months ago (as noted above, the price of gold peaked hours before the SNB instituted its now defunct EURCHF floor in September 2011, and the result was an epic selling of gold-backed ETFs), sentiment expressed via paper gold has turned “tentatively positive” in the words of the World Gold Council, and so far in 2015, ETFs have seen inflows of around 60 tonnes, the vast majority (over 90%) of which has been into US-based funds.
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