Central Banks Quietly Hoard Gold—Buying Direct from Domestic Miners in Local Currencies

Gold's back in vogue—but this time, central banks are cutting out the middleman.

No more London vaults or USD settlements. Governments are going straight to domestic miners, paying in pesos, yuan, and other local currencies. De-dollarization play? Inflation hedge? Either way, it's a power move.

Meanwhile, crypto maximalists smirk—gold bugs still need physical trucks while Bitcoin settles in minutes. The 21st century's reserve asset debate just got spicy.

(And yes, this is the same monetary system that swore gold was 'barbaric'... until they needed it.)

Central Banks Procuring Gold Through Domestic Miners, Paying in Local Currencies To Save Costs

Historically, Central Banks purchased the metal through over-the-counter global markets, especially situated in London, where it is transacted by the bullion. It is mostly priced in the US dollar, euro, or sterling pound. Developing nations are bypassing the normal FLOW of purchases and relying on domestic procurement.

Fan summed it up.