Saudis Hoard Twice as Much Gold as Thought

While gold sales have been well-publicized, orchestrated and clearly a tool of control by the West, real purchases by the Saudis and other acquiring central banks will be viewed as surprises.

Saudi Arabia, the world’s fourth-largest holder of foreign exchange reserves, is sitting on more than twice as much gold as previously thought, according to new estimates that point to the revival of bullion as part of emerging economies’ official reserves.

Source: cnbc.com