GOLD: Highest Month & Quarter Settlement

Singapore added to its official gold reserve pile last month, Feb 2023, adding +51 metric tonnes of official gold bullion since the start of last year, 2022.

For the most part record sized government central bank gold bullion buying is being driven by emerging and developing economies. 

Let yourself look in this embedded SD Bullion Bullion Market Update back to the last major secular bear market in bonds. Back in early 1980, the gold-silver bullion bull market mania price tops. Understand how far adrift world central banks still are regarding their current gold bullion allocations.

Many of the purple-colored emerging and developing economies here made other major financial news headlines this week. As many are increasingly dedollarizing or taking fiat Federal Reserve notes and or offshore fiat eurodollars (or fiat US dollar circulating offshore) from being intermediaries in their bilateral trade settlements.

Here are but a few examples.

The Association of Southeast Asian Nations, with the acronym ASEAN, is a combined +678 million people in some of the fastest-growing economies globally.

They are now considering dropping the fiat US dollar, fiat euro, fiat yen, and pound as intermediaries in bilateral trade payment settlements.

Together they represent nearly 1/10th of World's GDP.

Remember how on this very channel, I have shown you clips of how the BIS is actively assisting countries like Malaysia and Singapore. In a new emerging fiat financial order, to eventually settle their own trade directly with one another using the emerging wholesale CBDC payment settlement platforms.

Well, what do you think countries like Singapore and Malaysia are doing? 

Is it not becoming more obvious by the week?

Even our supposed European allies are now trading and settling in our supposed rival's fiat currency units in order to acquire critical commodities like liquid natural gas.

This week, fiat dollar demise clips were played on mainstream media channels like FOX and CNBC.

Of course, it is easy to get carried away with all the fiat de-dollarization headlines being made.

According to the BIS, as of the end of the last year, 2022, the fiat US dollar still remains just under -45% of the fiat currency units used in world trade settlements.

In other words, this fiat de-dollarization train is only just beginning its long-term journey. 

Where it eventually leads to is likely much, much higher values for gold bullion. The bonafide everlasting money government central banks are increasingly stacking in record volumes.

This week, the fiat $USD gold price in devaluing fiat currency units finally reached its highest nominal monthly and quarterly settlement figures in history.

Regarding fiat $USD price action for the week in the monetary precious metals, the spot silver price rose, closing over $24 oz in fiat USD.

While the spot gold price traded flat still just below the key $2,000 per ounce spot price threshold. A key level that, once passed, should prove to become key long-term support.

The spot gold-silver ratio, due to silver strength, closed down for the week at 81.

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

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

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James Anderson
James Anderson
Senior Market Analyst & Content

A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold & Silver Guides and has been featured on the History Channel, Zero Hedge, Gold-Eagle, Silver Seek, Value Walk and many more. You can pick up Jame's most recent, comprehensive 200+ Page book here at SD Bullion.

Given that repressed commodity values are now near 100-year low level valuations versus large US stocks, James remains convinced investors and savers should buy and maintain a prudent physical bullion position now, before more unfunded promises debase away in the coming decades...