Spot gold prices have surged this week as investors anticipate potential US interest-rate cuts. However, central bank buying, particularly by China, is a significant factor driving gold’s strength since 2022. Central banks worldwide have increased their gold reserves, with China leading the way. According to Thompson, central banks bought 50-60% more gold in 2022 and 2023 compared to the previous decade.
China’s central bank has consistently added gold to its reserves, marking a 16-month streak as of February. This continuous buying spree has contributed to gold’s rise to record highs. Official data released on Thursday revealed that the People’s Bank of China increased its bullion holdings by about 390,000 troy ounces last month, bringing the total to 72.58 million troy ounces, equivalent to around 2,257 tons. Andy Schectman highlights China’s significant gold acquisitions, suggesting that their actual holdings might exceed official reports. Alasdair Macleod estimates that China possesses 38,000 metric tons of gold, with a substantial portion owned by the state.
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LISTEN CAREFULLY! Central Banks Are Coming for Your Gold & Silver Investments SOON – Andy Schectman
In recent years, gold and silver have become increasingly popular investment choices for those looking to diversify their portfolios and protect their wealth. With global economic uncertainty and inflation on the rise, many investors have turned to precious metals as a safe haven asset. However, according to Andy Schectman, president of Precious Metals Dealer, the central banks are coming for your gold and silver investments soon.
Schectman warns that central banks around the world are taking steps to limit the ability of individuals to hold physical gold and silver. He believes that these institutions are actively working to move towards a cashless society in order to control the flow of money and ultimately seize control of physical assets like gold and silver.
One of the tactics central banks are using to restrict the ownership of gold and silver is through the implementation of digital currencies. Schectman explains that digital currencies provide central banks with the ability to track and monitor every transaction, making it easier for them to regulate the flow of money and control the ownership of physical assets like gold and silver.
Furthermore, Schectman points out that central banks are also working to demonize physical gold and silver as outdated and impractical investment options. By promoting digital currencies as the future of finance, central banks are able to sway public opinion and discourage individuals from holding physical assets like gold and silver.
So what can investors do to protect their gold and silver investments in light of these threats from central banks? Schectman suggests taking physical possession of your precious metals and keeping them in a secure location that is not easily accessible to outside entities. By holding physical gold and silver, investors can avoid the pitfalls of digital currency and ensure that their assets remain under their control.
In conclusion, it is important for investors to listen carefully to the warnings from experts like Andy Schectman about the threats to their gold and silver investments posed by central banks. By taking proactive steps to secure their physical assets and protect their wealth, investors can safeguard themselves against the potential risks of a cashless society controlled by central banks. The time to act is now, before it’s too late.
Great title idiots
debt driven inflation is an attack on every working American's paycheck/savings
What is China's plan? It cannot be good for the US$.
Nothing about bullion confiscation. Click bait?
So basically we're going to keep this economy going for as long as we can until it literally hits the ground and starts combusting in to flames, this will not be a depression this will be a nightmare financially for everyone because right now when the inflation spikes up like a rocket and the dollar detaches itself from normal levels we're going to be just like Zimbabwe or Germany with wheelbarrows of money for bread. I personally feel like we have maybe 4 to 5 years of somewhat economic transactions with money and debt but after 2030 I think that's when everything will falter and hit the skids. I would buy Bitcoin and buy hard assets like gold /silver as a store of value while also actively trading…The only wild card for us investors is to actively engage the market by trading, we always over complicate things when we speculate. It's not about guessing the market's next move; it's about playing it smart and steady during trading…managed to grow a nest egg of around 100k to a decent 432k in the space of a few months… I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
CLICKBAIT TITLE !!!!
there is no way current decision making this bad is not intentional…