Why Central Banks Are Buying Gold | Ryan King - Equinox Gold
The Deep Dive Jun 15, 2026
Summary
Central banks have entered a new era of reducing their exposure to US Treasuries while adjusting gold holdings.
Geopolitical pressure on Iran, including lost oil revenue, is pushing some central banks to sell Treasuries or gold for liquidity.
The speaker argues this central bank activity means genuine price discovery for gold is underway right now.
Ryan King's takeaways
- Top takeaway The guest argues markets have entered a new paradigm in which investors are reducing exposure to U.S. Treasuries.
- He notes central banks are both buying and selling gold amid Iran-related geopolitics, with some selling gold or Treasuries to cover liquidity after lost oil revenues, leaving price discovery underway.