By Jonathan Barratt


The physical demand for Gold over the last few weeks has been unprecedented. Not only has the physical demand for Gold and Silver been absorbent but Central Banks (CB) seem to be lifting their interest in the metal, which is helping to offset the paper selling that has been a feature of trading over the last few weeks. We have always known that CBs have been on the bid and last year the combined purchases of Gold was 534.6 tons which was the most since 1964. Further, just over the last month we have seen Russia, Greece, Turkey, Kazakhstan and Azerbaijan all expand their gold reserves.