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pmbug said:
China seems to be buying again.
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I hear reports weekly about China and other BRICS countries buying large amounts of gold. China is a gold producer and a dictatorship so it must be able to get plenty of gold without too much foreign purchasing, I often wonder about the stories of central banks all over the world buying up huge tranches of gold, if its true then maybe that could account for gold's steady climb for the last few years?
 
Shaddam IV said:
often wonder about the stories of central banks all over the world buying up huge tranches of gold, if its true then maybe that could account for gold's steady climb for the last few years?
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The World Gold Council regularly publishes data on that. Buying is usually limited to a select few Central Banks but it did impact the price from 2022 through to 2023, maybe even early 2024 (I can't remember offhand). For most of 2024 CB buying had declined and I'd say it was the retail and institutional market that drove prices higher, which makes sense as retail is normally later to the party.
 
pmbug said:
CB buying (India, China, etc.) has been strong in 2024:
https://x.com/KrishanGopaul/status/1854920783644017182

https://www.moneymetals.com/news/20...just-secretly-bought-60-tonnes-of-gold-003648

Retail isn't really driving this bus:
https://www.gold.org/goldhub/research/etf-flows

and FWIW:
https://gata.org/node/23529
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The central banks know what's coming and they cant keep the turd afloat forever.
In the face of complete failure, even the biggest losers know when to call it quits.
 
Its probably just a coincidence.
They aren't buying enough to raise any alarms anyway. Just tiny amounts here and there.
They've been net buyers the last 14 years and own 17 percent of the gold on Earth.
It almost does seem false haha.
 
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JohnnyBravo300 said:
Its probably just a coincidence.
They aren't buying enough to raise any alarms anyway. Just tiny amounts here and there.
They've been net buyers the last 14 years and own 17 percent of the gold on Earth.
It almost does seem false haha.
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I'm not sure they've been net buyers for 14 years, but gold purchases form part of a central bank's desire to minimise exposure to risk. In other words they buy gold as a reserve asset to protect their domestic currency and support their financial institutions. None of the large advanced Western nations buy gold because they don't have to.

Edit to add: hence why I called it a false narrative. And yes, I know, it's a cleanest shirts in the laundry type thing.
 
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Stupid fool politicians piss me off poking and prodding at China...how bout they shut they're mouths sideshow clowns revolving back n forth with open mouths, We need China its our biggest trading partner and talks of War with what? Our piddling size army with our biggest Allies on other side of the world...Plus the biggest factor of all...Gold pandas are awesome ;):cool:
 
The world’s central banks continued to drive demand for gold in November, with the lion’s share of purchases once again being made by emerging markets, according to Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council.

“November represented another solid month of gold buying as central banks collectively added a net 53t to global official holdings based on available reported data,” Gopaul said. ...
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https://www.kitco.com/news/article/...another-strong-year-central-bank-demand-world
 
While gold prices enjoyed a strong and steady climb in 2024, physical gold demand, as reflected in ETF flows, was much more uneven, as investors sought to get ahead of big price moves during some periods, and took advantage of record-high prices to liquidate holdings at other times.

Among the major regions, data from the World Gold Council (WGC) showed ETF demand from Asian investors was the most steady, with the overwhelming majority of weekly flows reports showing net gains in the region as China's faltering currency and collapsing property market combined to drive strong safe-haven appeal for the yellow metal. By contrast, European and North American ETF demand reflected a more arbitrary and opportunistic attitude as OECD investors were happy to jump on and off the gold price roller coaster depending on how interest rates, equities, and precious metals prices were performing on a week-to-week basis.
...
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More:
https://www.kitco.com/news/article/...swings-us-eu-investors-2024-while-asia-ramped
 
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