Central banks are STOCKING UP on gold:
Since 2022, China has bought a record ~290 tonnes of gold.
Last year alone, China acquired more than 225 tonnes of the metal.
China's central bank increased its gold holdings for 17 straight months.
In 2022 and 2023, world central banks bought 1081 and 1037 tonnes of gold, respectively.
Prior to 2022, there was never a year in history with 1,000+ tonnes of central bank gold purchases.
Have central banks lost faith in their own currencies?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- wubbie·04-23What are your thoughts on the implications for gold prices and the GLD ETF?LikeReport
- CloudySeason·04-23Chine is going to dethrone USD in 10-20 years time.LikeReport