Gold, Silver & Other Precious Metals 19 (Oct 24 - Dec 26)

[behappyalways]

The Mad Dash In India To Buy Gold
https://www.zerohedge.com/markets/mad-d ... a-buy-gold


Nice chart,
@duediligenceguy
, on $GLD net outflows this year and how outflows have just now turned into inflows. #Gold
https://x.com/a_martinoro/status/1840723014624698800

[behappyalways]

Long term positive impact for gold

West Seeks To Finalize Using Frozen Russian Funds To Pay For Ukraine War
https://www.zerohedge.com/geopolitical/ ... e_vignette

[behappyalways]

“In accordance with the resolution of the board, we are striving for 20 percent of our currency reserves to be in gold. Then, we will find ourselves in such a close, exclusive club of the best economies in the world,” Glapiński said.

Poland Now Has More Gold Reserves Than The UK
https://www.zerohedge.com/economics/pol ... eserves-uk


Will Russian Buying Drive Silver Beyond $50
https://www.zerohedge.com/precious-meta ... -beyond-50

[winston]

China keeps off gold as forex reserves rise

China held back on buying gold for its reserves for a fifth straight month

The country's foreign exchange reserves - the world's largest - grew by US$28.2 billion (HK$220 billion) to US$3.316 trillion last month.

Meanwhile, gold holdings remained unchanged at 72.8 million ounces at the end of last month. The value of the gold reserves, however, rose to US$191.47 billion from US$182.98 billion.

Source: Reuters

https://www.thestandard.com.hk/section- ... erves-rise

[winston]

The world’s central banks continue to keep faith in gold despite sky-high prices

by Neil Behrmann

Global central banks currently hold some 1.16 billion ounces of gold that are collectively worth in excess of US$3 trillion.

It now accounts for just under a fifth of the total US$15.45 trillion worth of gold and foreign exchange reserves held by the world’s central banks.

The US dollar accounts for US$6.7 trillion, or 43 per cent of gold and foreign exchange reserves.

Coming in at a distant second place is gold (19.8 per cent), followed by the euro (14.7 per cent), the Japanese yen (4.2 per cent), the British pound (3.7 per cent), the Canadian dollar (1.9 per cent), the Australian dollar (1.7 per cent) and the Chinese renminbi (1.6 per cent).

Gold’s share in central bank reserves has risen because central banks have bought 305 million ounces in the past 15 years.

Source: Business Times

https://www.businesstimes.com.sg/compan ... igh-prices

[behappyalways]

Costco Gold Bars Are Selling Out Even As Prices Surge, Survey Finds
https://www.zerohedge.com/personal-fina ... rvey-finds

[behappyalways]

Since fighting in Eastern Europe kicked off in 2022, central banks worldwide have been stocking up on gold at roughly three times their prior pace.
https://x.com/graniteshares/status/1843398649100857411

[behappyalways]

Zijin to buy Newmont’s Akyem Gold Mine in Ghana for $1bn
https://finance.yahoo.com/news/zijin-bu ... 41362.html


Central bankers make rare comments in favour of bigger gold stash
https://www.businesstimes.com.sg/intern ... gold-stash

[behappyalways]

Gold welcomes a new round of bull market!
The international gold price exceeded 2,700 US dollars, driving the gold passbook price to hit a new sky-high price of "2,817 yuan per gram".
Experts expect it to hit 3,000 US dollars next year.

黃金迎新一輪牛市! 國際金價突破2700美元 帶動黃金存摺牌價衝新天價"每公克2817元" 專家預期明年衝上3千美元｜非凡財經新聞｜20241018

https://m.youtube.com/watch?v=_wA2L-GONSs

[behappyalways]

Gold prices continue to hit record highs, but major banks in China are closing stores

金價續創歷史新高　中國各大銀樓卻掀關店潮｜#鏡新聞

https://m.youtube.com/watch?v=Wk69Zs_RUWk