E301 - Central Banks Just Bought $47 Billion in Gold. Why?
Published: September 3, 2026
Duration: 7:39
Central banks continue buying gold, but the scale of the latest increase stands out.
In this episode of The Secret War on Cash, Dean Heskin and Chris Agelastos discuss figures showing roughly $47 billion in central-bank gold purchases over a three-month period, following several years of strong institutional demand.
Chris notes that central banks had often been purchasing around $10 billion per quarter, making the latest increase approximately five times larger.
Why the jump?
One explanation discussed in the episode is price.
Gold had pulled back from a previous high near $5,500 into roughly the $4,000–$4,500 range. To long-term in...
In this episode of The Secret War on Cash, Dean Heskin and Chris Agelastos discuss figures showing roughly $47 billion in central-bank gold purchases over a three-month period, following several years of strong institutional demand.
Chris notes that central banks had often been purchasing around $10 billion per quarter, making the latest increase approximately five times larger.
Why the jump?
One explanation discussed in the episode is price.
Gold had pulled back from a previous high near $5,500 into roughly the $4,000–$4,500 range. To long-term in...