Central Banks Hoard Record Amount of Gold Amid Price Decline

Central banks around the world made a significant gold purchase in Q2 of this year. According to data released by the World Gold Council, they bought a record 289 tonnes of gold during this period.

What's striking about this purchase is that it occurred while gold prices were falling. The quarterly decline was their steepest in a decade.

This buying pattern reveals where the world's largest reserve managers think the monetary system is heading, and they're apparently not confident in its stability.