| ◆ China has added more than 100 tons of gold bullion bars to its gold reserves since it resumed buying in December; China’s gold holdings rose to 62.64m ounces in September, an increase of 190,000 ounces in one month
◆ The People’s Bank of China (PBOC) increased it’s gold reserves for a 10th straight month in September, reinforcing its standing as one of the major official accumulators as many creditor nation central banks stock up on the precious metal ◆ China and central banks around the world need a hedge against their massive, near non yielding dollar holdings and central banks are trying to reduce their exposure to the dollar ◆ Investors globally need a hedge due to their massive dollar and negative interest rate bond and fiat currency exposure |
Spot Gold Price USD - Click to enlarge |
Focus On Gold’s Safe Haven Value, Not Gold $16,000 and Silver $700 Prices ! |
I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
Tags: Daily Market Update,newsletter
