Papua New Guinea wants to retain at least 30% of the gold it currently exports as it transforms its economy under a new government leadership, the country’s commerce minister said on Monday.

Mori said that PNG would also consider pegging its currency, the kina, to gold, rather than the U.S. dollar.

As none of the CBGA cartel central banks “currently has plans to sell significant amounts of gold“, has it been a case of gold buying envy as Russia, China and even and have piled into the yellow metal? It would certainly seem so.

'If we use all of our foreign exchange reserves to buy US Treasury bonds, then when someday the Federal Reserve suddenly announces that the original 10 old dollars are now worth only one new dollar, and the new dollar is pegged to the gold – we will be dumbfounded.'

Whatever the exact motives, both Hungary’s and now Poland’s gold purchases and repatriations are sending clear signals to the EU elites that in the realms of both politics and monetary policy, that two countries still have an independent streak and sense of national sovereignty found lacking in many other EU member states.

So will there be a new central bank gold agreement announced in the next few weeks? Word on the street is that large institutions are being quizzed by the obedient World Gold Council and being asked if they in favour of a new CBGA or not. Given that the whole CBGA scheme was a cover whose main purpose has already been achieved, there is no compelling logic for a fifth CBGA, except of course unless there have been further physical gold flows out of western central banks which need to be squared off in the books.

A common theme in economics is “those who own the gold make the rules.” Recent statistics suggest a large disparity between the top gold holders in the world and those governments holding less of the yellow metal.

Every so often, US media coverage provides glimpses into the US Treasury’s gold reserves stored with the . While this coverage never documents any of the claimed “deep storage” gold of the US Treasury, it contains just enough suggestion for the populace to connect the words ‘gold storage’ and ‘US Government’, and then return to their daily routines, assuming that the US has the largest strategic gold reserves in the world.

About an hour and a half's drive north from New York City lies a treasure -- the gold kind. But it's not one that you can go and find.

In fact, you can't get anywhere near it. Because this treasure belongs to the United States Treasury.

Nearly a quarter of the U.S. government's gold sits beneath a windowless building on the campus at West Point.

Venezuela removed eight tonnes of gold from the central bank’s vaults last week, and the cash-strapped socialist state is expected to sell the bullion abroad as it seeks to raise hard currency in the face of U.S. sanctions, a lawmaker and one government source said.

The government source said the central bank’s reserves had fallen by 30 tonnes since the start of the year before U.S. President Donald Trump tightened sanctions, leaving the bank with around 100 tonnes in its vaults, worth more than $4 billion.

Hot on the heals of , moves are now afoot in neighboring Romania to do likewise, via a parliamentary bill submitted by Romanian politicians Liviu Dragnea and Serban Nicolae which specifies that only 5% of gold reserves can be kept abroad.