China's gold purchases have surged, pushing prices to unprecedented levels. This increase is highlighted by recent reports from The New York Times and data from the World Gold Council. The Council's April 30th publication noted significant gold acquisitions by private investors and central banks, with 136 tonnes of over-the-counter gold demand and 290 tonnes of central bank purchases, including 208 tonnes noted by analyst John C. Tumazos, CFA, of Very Independent Research, LLC, in the first quarter of 2024 alone. This trend is part of a broader pattern where the Chinese market, known for its speculative activities, has shifted focus from the faltering property sector to precious metals.
In China, there is no alternative to gold via @NYTimes https://t.co/LXl37y0FQw
We are early yet…..#GOLD. China Is Buying Gold, Sending Prices to Record Highs - The New York Times https://t.co/hDsL9ru2YE
China's SKYROCKETING Gold Purchases Send Prices to Record Highs Read More: https://t.co/Pmdp0N6cl4
“China Is Buying Gold Like There’s No Tomorrow” Article: https://t.co/SnLMI7kaTf
China Is Buying Gold, Sending Prices to Record Highs https://t.co/U7T10ew9EY
Stockpiling gold. China Is Buying Gold, Sending Prices to Record Highs - The New York Times https://t.co/vIgr6EAWmc
China is buying up #Gold https://t.co/j2PcM8Jfki
Like clockwork. The New York Times just dropped an article that China is buying gold like there’s no tomorrow. In other words, A modern day gold rush. The western world is waking up. Who likes 3D chess? https://t.co/hlMD1ILE1q
FROM A Favorite Analyst John C. Tumazos, CFA, Very Independent Research, LLC "The World Gold Council’s April 30th publication of Gold Demand Trends (1) described 136 t of 1Q 2024 OTC Gold demand possibly by private investors and (2) 290 t of central bank purchases, 208 t…
Chinese Gold Imports Are SKYROCKETING! Markets in the world's second-largest economy are always known for speculative activities, as the cash-rich Chinese love to speculate. While the property sector has been in meltdown for the last few years, and the Chinese equity markets… https://t.co/VODkP4Apgs