Did you know that central banks bought more gold last year than any year in the past 55 years—since 1967? Though most don’t realize it, 1967 was a significant year in financial history, mainly due to the events at the London Gold Pool. The London Gold Pool was an agreement among central banks of the United States and Western European countries to stabilize the price of gold. The goal was to maintain the price of gold at $35 per ounce by collectively buying or selling gold as needed. However, in 1967 the London Gold Pool collapsed due…
