by Mike Maharrey, Gold Seek:
After a six-month pause, China’s central bank officially resumed gold purchases in November.
According to data released by the People’s Bank of China, it added about five tons of gold to its reserves in November.
China was the biggest central bank gold buyer in 2023, but it stopped announcing increases to its reserves in May.
Even with the pause, China still added nearly 30 tons of gold to its official reserves through the first half of 2024.
by Turd Ferguson, TF Metals Report:
The weeks since the U.S. election have brought significant volatility to bonds, forex and the Comex precious metals. Is this all part of a new trend or an overreaction to the headlines. For some answers, I sought out my old friend, Alasdair, and asked him to weigh in on the macro trends of gold and silver and where he thinks prices are headed in 2025.
As always, many thanks to Alasdair for his friendship over the years and his consistent willingness to stop by TFMR and bring us all up to speed on his current thinking. However, no one needs to wait for Alasdair’s appearances here to get updates. He now has his own Substack page and I encourage everyone to check it out: https://alasdairmacleod.substack.com
by Jan Nieuwenhuijs, Gold Seek:
The share of global official gold reserves not stored at the Federal Reserve Bank in New York (FRBNY) and Bank of England (BOE) in London has reached 78% in 2024, from 51% in 1972.
The shift in this ratio appears to be accelerating and can be seen as a proxy for the West’s decline in financial dominance.
“Gold is the bedrock of stability for the international monetary system,” wrote former President of the German central bank, Jens Weidmann, in 2019. Not surprisingly, no national currency has ever become the world reserve currency without a substantial amount of precious metal supporting it.
from ZeroHedge:
Chinese scientists have uncovered a “supergiant” deposit of high-quality gold ore hidden near some of the country’s existing gold mines. The vast reserve, which could be the largest single reservoir of the valuable metal left anywhere on Earth, could end up being the largest known deposit of the precious metal anywhere in the world, and is worth more than $80 billion.
by Jon Forrest Little, Silver Seek:
Russia’s recent move to temporarily ban the export of precious metals waste and scrap is a significant development in the ongoing economic war between East and West. This decision, following China’s long-standing practice of retaining its gold and silver, signals a shift in global commodity dynamics that could have far-reaching consequences.
As predicted by Jon Forrest Little of Silver Academy months ago, strategic nations like Russia and China are now taking steps to prohibit the export of crucial metals. This move is not just about waste and scrap; it’s the beginning of a larger trend that could reshape the global economic landscape.
from Birch Gold Group:
Despite two volatile weeks, $3,000 gold in 2025 is starting to seem inevitable. Meanwhile, everyday Americans are finally starting to catch on to gold’s role in diversifying their savings. Then we investigate the increasingly popular opinion that leaving the gold standard was the worst decision our nation ever made. Could we go back?
from Birch Gold Group:
Despite two volatile weeks, $3,000 gold in 2025 is starting to seem inevitable. Meanwhile, everyday Americans are finally starting to catch on to gold’s role in diversifying their savings. Then we investigate the increasingly popular opinion that leaving the gold standard was the worst decision our nation ever made. Could we go back?
by Alex Deluce, Gold Telegraph:
Some interesting coincidences…
“We are going to have to have some kind of a grand global economic reordering.”
Scott Bessent, the incoming Treasury Secretary, is stepping into the spotlight to manage the monumental task of selling trillions in U.S. government bonds.
Japan has been grappling with a dramatic currency crisis, prompting the government to intervene repeatedly to support and stabilize the yen.
