Massive Error in Central Bank Gold Demand Data Admitted

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Only a few weeks ago, the Bank of England's subsidiary, the western gold industry mouthpiece so-called the World Gold Council. Claimed that global central bank gold buying last year in 2022 hit the highest level since a year before their London Gold Price rig failure in 1967.

This week, the Bank of England's World Gold Council admitted a massive error in reporting the ongoing facts.

You might recall me flashing this chart from a Financial Times article published last week.

They screwed up and accidentally reversed their data sets from the last time they failed to keep the gold price politely suppressed.

Here is what they claimed to begin in 1950 to 2022, in error.

Here is the now correct portrayal of historical data. Last year was allegedly the largest central bank gold bullion buying spree since WW2.

And me being the gold data nerd that I am, we're going further back to see how last year's government gold bullion buying galore compares to back when he had more disciplined albeit still pseudo gold standards in effect before WW2.

The silver and gold markets continued sideways to slightly down for the week.

The spot silver price closed the week just over $22 oz ask. The spot gold price finished near the $1870 oz ask.

The spot gold-silver ratio slightly moved higher, now near 85.

Another industry council revised some of its data this week.

SILVER INSTITUTE increases 2022 deficit
from -194 million oz to now -253 million oz in this week's publication:
SILVER MARKET MAY FACE ECONOMIC HEADWINDS IN 2023 - https://www.silverinstitute.org/silve...

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That's all for this week's SD Bullion Market Update.

As always, to you out there, take great care of yourselves and those you love.