Latest World Gold Council reserve figures show CB's were liking the shiny stuff
- Total Q4 2015 gold demand +4.0% y/y
- Q4 2015 Central bank demand +25.0% y/y
- 2015 Central bank purchases +1% y/y to 588.4t
- Q4 2015 Investment demand +15% y/y
Central banks took on 336.2t in the second half of 2015 compared to 252.2t in H1.
BI also note who the top 10 countries holding gold are.
It's probably a surprise to most who is in the top 4
- US 8133t. Percentage of foreign reserves in gold - 72.2%
- Germany 3381t, reserves 66.3%
- Italy 2452t, res 64.0%
- France 2436t, res 60.1%
- China 1762t, res 1.8%
- Russia 1393t, res 13.0%
- Switzerland 1040t, res 6.0%
- Japan 765t, res 2.1%
- Netherlands 612t, res 54.6%
- India 558t, res 5.4%
Adam's been all over the gold trade like a rash and the breakout has been text book and has confirmed the full on bullish trend.
Gold daily
We're up $8 right now but have so far failed to make an attempt on Friday's high at 1279
