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Gold Hits New Record High As China Moves To De-Westernize Global Bullion Market
The Gold rally has accelerated since August and delivered a +12% return over the past month - 98th percentile for monthly returns since 1980 - supported by rising futures positioning and ETF inflows, as well as a seasonal pick-up of central Bank demand. Overnight, however, Gold climbed to a fresh record, with traders weighing China's new plan to become a custodian of foreign sovereign gold reserves. Bloomberg reports that The People’s Bank of China is using the Shanghai Gold Exchange to court central banks in friendly countries to buy bullion and store it within the country’s borders, said the people, who spoke ... (full story)
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From bnnbloomberg.ca | Sep 23, 2025
Gold surged to a record Tuesday, lifted by expectations of further U.S. Federal Reserve rate cuts and renewed flows into exchange-traded funds. Analysts say central bank buying and investor fear of missing out are also fuelling the rally. Bart Melek, managing director and global head of commodity strategy at TD Securities, says China and other nations are ...
From uk.finance.yahoo.com | Sep 23, 2025
Gold prices surged to a fresh record high on Tuesday, buoyed by deepening geopolitical tensions, growing expectations of further US interest rate cuts, and mounting concerns that financial markets have risen too far, too fast. At the time of writing, gold futures had gained 0.3%, reaching $3,787.80 per ounce, while the spot price rose 1% to $3,750.45 per ...
From morningstar.com | Sep 23, 2025
China reportedly has plans to invite some countries to buy physical gold and store it within its borders, in the country's latest move to expand its reach into the international market for the precious metal. When it comes to gold, China is the world's biggest miner, a net importer, a large central-bank buyer and a key consumer nation - but it "lacks any ...
