Have Central Banks Broken Gold? | Presented by CME Group

Summary

This video explains why central banks are selling gold after a record buying spree. It argues that the selling is not a loss of faith but a tactical move to fund crises, while the structural bid from China and India remains. Gold's long-term role as a non-dollar hedge is still intact.

• Central banks bought over 1,000 tons of gold annually since 2022 as a structural bet against the dollar.
• Some central banks are now selling gold, but the long-term thesis has not changed.
• Turkey, Russia, and Poland are selling gold to defend currencies or fund wars and defense.
• Gold is considered the most liquid non-dollar asset for countries under pressure.
• China and India continue to buy gold, maintaining the structural bid.
• The selling signals that the crises central banks were hedging against are now real.
• The video concludes that gold is not broken; it is working as designed.