Please note – And this is extremely important – the amount of gold purchased by Central Banks in 2014 DOES NOT include any amount of gold that was accumulated by China’s Central Bank, the Peoples Bank of China. This is a fact that mainstream media or the World Gold Council will not report.
The World Gold Council is reporting that Central Banks purchased 477.2 metric tonnes of gold in 2014. Apparently this would be enough to purchase 75 Boeing 787 Dreamliners. Governments added 477.2 metric tons to their reserves, the second-biggest increase in 50 years and 17 percent more than a year earlier, the World Gold Council said in a report Thursday. Based on the average price of gold in 2014, central banks probably paid about $19.4 billion. A Boeing 787-9 has a $257.1 million retail price, according to the company’s website. – Bloomberg News
This amount represents roughly 25% of total amount of gold produced by mines globally during 2014. That’s another fact that won’t be reported.
The report lists Russia as being the biggest buyer. Of course, in what has become standard western media fraudulent and misleading journalism, recall that American business news made an attempt at reporting that Russia was unloading gold toward the end of 2014. Subsequent disclosure from Russia’s Central Bank revealed that Russia was in fact buying up large quantities (www.goldchartsrus.com, edit in white is mine – click to enlarge):
Further, please note that the number from the WGC does not include any gold hoovered up by the PBOC. The WGC notoriously is incredibly inaccurate with its estimates on gold imported into China. It has absolutely no clue how much gold is being accumulated by the PBOC. Of course, no one else outside of the highest circles of Chinese Government knows this either.
Thus, any estimate of Central Bank gold buying during ANY time period should be asterisked with a note that states explicitly that the number is an estimate that does not include PBOC purchases.