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Continue to ChatCentral banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be. - Peter Schiff from https://whatsmyquote.com/quote/central-banks-are-choosing-to-increase-their-gold-holdings-as-a-percentage-of-total-reserves-they-obviously