Gold, Silver & Other Precious Metals 17 (May 19 - Dec 24)

[behappyalways]

Armstrong: Why Are Central Banks Buying Gold?
https://www.zerohedge.com/geopolitical/ ... uying-gold

[behappyalways]

Visualizing The Value Gap Between The Gold Price And Gold Miners
https://www.zerohedge.com/markets/visua ... old-miners

[behappyalways]

More wild stuff in China as local investors pile into a gold stock ETF pushing its premium to 30% and forcing it to halt trading.
Investors there are so desperate to buy things that are not linked to their own economy/stock mkt, which has been in the gutter. ht
@RebeccaSin_SK
https://twitter.com/EricBalchunas/statu ... 2079921165


Asian central bank demand helps push gold to another record high
https://www.cnbc.com/metals/


It’s not a special sale on fruits and vegetables!
Chinese supermarkets “selling gold” also set off a buying spree.
The retail listing price exceeded 700 yuan!
The crowds of gold rushers are not deterred.
Costco sells gold bars! Unexpectedly popular among young Americans
不是蔬果特賣! 中國超市"賣黃金"也掀搶購潮 零售掛牌價破700人民幣! 搶金人潮不卻步 Costco賣金條! 意外大受美國年輕人歡迎│記者 姚懷真│【國際大現場】20240408│三立新聞台
https://m.youtube.com/watch?v=7AgqJ5ePB88


China Gold-Buying Frenzy Sparks Chaos In ETFs
https://www.zerohedge.com/markets/china ... chaos-etfs

[winston]

This Precious Metal’s New Record Highs Are Just The Beginning

by Brett Eversole

The combined share count of GLD and IAU outstanding have been falling for years. They’re down a combined 29% since peaking in 2020.

Folks might not be buying yet. But if the metal is rising despite these outflows, it’ll be hard for the current boom to slow down.

In short, we’re still in the early stages of a major bull market for gold. Investors still hate the boom today… But that hate won’t last forever. And we’ll see the biggest gains once sentiment reverses.

Source: DailyWealth.com

https://dailytradealert.com/2024/04/10/ ... beginning/

[behappyalways]

One way to protect one's net worth
https://twitter.com/KatusaResearch/stat ... 2174331324

[behappyalways]

PAMP It: Costco Selling Up To $200 Million In Gold Bars Per Month, Wells Fargo Estimates
https://www.zerohedge.com/commodities/p ... fargo-says


Gold's weekly Relative Strength Index surpassed a reading of 77, a scenario observed in just 3% of precedents since 1973. Instances above 77 have yielded a remarkable 17% annualized return for the precious metal.
https://twitter.com/sentimentrader/stat ... 2678309921

[behappyalways]

Central Banks Are Buying The Gold Top
https://www.zerohedge.com/markets/centr ... g-gold-top

[behappyalways]

One mistake of US foreign policy is using the dollar and global western financial system as a weapon.

That's driven more central bank gold buying than we've ever seen before, helping to boost the price of gold due to the enormity of this demand.
https://twitter.com/Mayhem4Markets/stat ... 8620379452

[winston]

China is front and centre of gold’s record-breaking rally

China is the world’s biggest producer and consumer of the precious metal.

China’s gold jewelry demand rose 10% while India’s fell 6%. Chinese bar and coin investments, meanwhile, surged 28%.

Although China mines more gold than any other country, it still needs to import a lot and the quantities are getting larger. In the last two years, overseas purchases totaled over 2,800 tonnes — more than all of the metal that backs exchange-traded funds around the world, or about a third of the stockpiles held by the US Federal Reserve.

Over the first two months of the year are 53% higher than they were in 2023.

The People’s Bank of China has been on a buying spree for 17 straight months.

The influx of money into Gold ETFs in China has totalled US$1.3 billion so far this year, compared with US$4 billion in outflows from funds overseas.

Source: Bloomberg

https://theedgemalaysia.com/node/708735

[behappyalways]

Gold Miners Will Trade At "Multiples" Of Current Prices
https://www.zerohedge.com/markets/gold- ... ent-prices