Central Banks buy gold as world sniffs crypto-currency

Reported by: |Updated: June 21, 2019

Countries around the world are on a gold buying spree in light of global uncertainties, especially US-China trade. China and Russia have been the most aggressive buyers in recent times, followed by Turkey and Kazakhstan. Central banks around the world collectively purchased 651 tons of gold in 2018, an increase of 74% over 2017. All this, as Facebook announced its intention to launch crypto-currency Libra.