Singapore Just Bought Tons of Gold
The Central Bank of Singapore Added 1,434,600 Ounces!
Official records show that the Monetary Authority of Singapore (MAS), the central bank of the Republic of Singapore, boosted its gold holdings by 44.6 tons in a single month.
Between December 2022 and the end of January 2033, the central bank’s gold position grew by 29 percent. In terms of troy ounces, the MAS added 1,434,600 ounces to bring its total holdings to 6,378,041 ounces, or a total of 198.4 tons.
The significance of central bank gold buying can hardly be overstated. We have called it the most important monetary megatrend of our era.
With the ending of World War II and the Bretton Woods Agreement, the US dollar’s role as the post-war’s international currency reserve was formalized. It was a privileged position that provided support to the dollar’s international strength, dollar demand ultimately adding lift to the standard of living of the American people.
Now that dollar standard is breaking down. The evidence is seen in foreign central banks de-dollarizing and building their gold reserves.
This isn’t the first surge in Singapore’s gold holdings. Two years ago, it added 26.35 tons in just two months.
Foreign central banks are like the canary in the coal mine. They are acutely aware of the consequences of money printing because they practice it themselves. They simply don’t want to be victimized by our monetary recklessness. Foreseeing a crisis in the dollar’s value, they move to secure their own wealth in gold.
To underscore the tempo of today’s de-dollarization, we refer you to our recent commentaries “Colossal” Gold Demand from the World’s Central Banks! and China Continues to Dump Dollars!
The world’s central banks see what is coming and you should, too!
Speak to a Republic Monetary Exchange gold and silver professional today and de-dollarizing for wealth protection.