Central Bank Gold Demand Rose at the Fastest Pace in 55 Years, Analyst Says Silver Could Outperform Gold in 2023

According to a myriad of reports, the People’s Republic of China has been buying hoards of gold during the last year. Consequently, World Gold Council (WGC) statistics show the demand for gold by central banks has risen at the fastest pace in 55 years. Meanwhile, Wells Fargo’s head of real asset strategy, John LaForge, contends that when silver starts outperforming gold, it usually signals it is “closer to a bull market in precious metals versus the other way.” The World’s Central Banks Are Hoarding Large Sums of Gold, China Recently Purchased 32 Tons of the Precious Metal Precious metals like