Bucking Gold Repatriation Trend, Argentina Sends More Gold to London: If Milei succeeds in getting Argentina’s finances in order, international debt can be repaid and foreign exchange can be used to unwind the gold swaps. If not, Argentina will surrender ownership of 36 tonnes of precious metal.
Sept. 20, 2024, 5:37 p.m.
Saudi Central Bank Caught Secretly Buying 160 Tonnes of Gold in Switzerland: The Saudis have joined other Asian countries in ditching their long-term sensitivity to the gold price. Evidence suggests the Saudi central bank has been covertly buying 160 tonnes of gold in Switzerland since early 2022, contributing to the current gold bull market.
Sept. 15, 2024, 11:17 p.m.
PBoC Gold Conduit Revealed—Chinese Central Bank Did Not Stop Buying Gold in May: This article is an analysis of how the Chinese central bank (PBoC) buys gold in London from Western bullion banks. Because the bullion banks take care of the gold transport for the PBoC, the shipments from London to Beijing are disclosed in UK customs data. The customs data reveals that the PBoC continued to buy gold in May—when it communicated to the market it discontinued buying—at a rate of 53 tonnes. The PBoC st
July 31, 2024, 4:53 p.m.
Swaps, Leases, and Forwards—A Deep Dive into the Gold Wholesale Market: To gain a comprehensive understanding of the mechanics of the gold wholesale market, it's essential to be familiar with its key building blocks: swaps, leases, and forwards. In this article, we will explore these components and their interactions to be better equipped to evaluate developments in the gold market.
July 10, 2024, 9:18 p.m.
Thailand Joins China in Driving Gold Bull Market: Shedding its long-standing price sensitivity to the price of gold, Thailand is currently a gold buyer driving the price up, just like China. Present changes in the global gold market, in which pricing power is shifting East, could be a precursor to a transformation in the international monetary order. Possibly, trade in the East will settle through a system connecting local CBDCs, while any remaining imbalances are transferred in gold.
June 19, 2024, 7:35 a.m.
Gold Overtakes Euro in Global International Reserves: Sturdy central bank gold buying since 2009 and a rising gold price has grown the precious metal’s share of global international reserves to the detriment of fiat currencies. By the end of 2023 gold surpassed the euro and the next fiat currency to be challenged is the US dollar.
June 2, 2024, 8:28 a.m.
Exceptionally Strong PBoC and Chinese Private Sector Buying Continues to Boost Gold Price: Chinese private sector gold imports accounted for 543 tonnes in the first quarter, while the People’s Bank of China (PBoC) added 189 tonnes to its reserves over this time horizon. Most of the PBoC’s purchases are “unreported.” China continues to be the marginal buyer in the gold market, driving up the price. I expect that China will remain a robust buyer of gold going forward in support of the price.
May 24, 2024, 7:12 a.m.
Why We Are at the Start of a Multi-Year Gold Bull Market: Recently the dollar gold price aggressively broke a multiyear resistance level on the back of escalating wars, worrying asset bubbles, and sticky inflation. Long term indicators show gold is undervalued under these circumstances and can easily double in price over the coming years.
May 9, 2024, 7:30 a.m.
World Bank Report Highlights Advantage of Central Bank Gold Revaluation Accounts: Recently the World Bank released a handbook for asset managers on why to invest in gold. At Gainesville Coins I have written numerous articles on gold revaluation accounts and how these can be deployed by central banks to absorb losses in case of emergency. The World Bank has taken notice of my research as they allude to this practice in a chapter on reserve accounting and reference to my work.
April 15, 2024, 11:40 a.m.
