Have you ever heard of gold hoarding? China and India central bankers have been doing it for a long time. More recently, we can add Korea, Turkey, Russia and Ukraine to the list of world bankers that are aggressively buying up gold. Charts do not lie. We are on to them. Matthew Boesler of BusinessInsider.com crunches the numbers by stating: "On the other hand, official sector purchases soared in the second quarter, with central banks around the world scooping up 157.5 tons of gold. That number marks a 62.9 percent increase from the first quarter and a whopping 137.9 percent increase year-over-year. It is also the most gold central banks have bought up in a single quarter since the WGC started tracking the numbers in the Q2 2009." Here is Matthew Boesler's chart showing how much gold central bankers are buying compared to 2007: There can only be two possible explanations for the central bankers' gold buying spree: (1) The US dollar and/or Euro are about to collapse, or (2) The price of gold is getting ready to soar higher. We may even entertain the possibility of both happening. Ironically, gold prices around the world are already sky high. The following charts, courtesy of I.M. Vronsky of Gold-Eagle.com's research on StockCharts.com, "show gold prices in ALL major global currencies recently made record highs:" US Dollar gold price Euro Gold Price Chinese Renminb price Japanese Yen gold price Pound Sterling gold price Swiss Franc gold price Canadian dollar gold price
