Gold Telegraph
@GoldTelegraph
BREAKING NEWS
TANZANIA ORDERS GOLD DEALERS TO RESERVE 20% FOR PURCHASE BY THE CENTRAL BANK TO BOLSTER THE BANK’S MOVE TO DIVERSIFY ITS FOREIGN RESERVES.
Another prediction coming together.
The rush to gold continues.
“In the 12 months to June, the central bank bought 418 kg of gold to beef up its reserves…”
The share of USD-denominated foreign exchange reserves held by central banks has decreased to 58.2% in Q2.
This is the lowest level since 1995.
Japan’s public sector holds a mountain of financial assets.
This includes government bonds and foreign/domestic securities.
It represents 134% of GDP.
How can anyone say this is a real financial market?
On top of that, the incoming Prime Minister of Japan says the country will deploy fiscal stimulus if needed.
How?
Today, China’s stock surged in its biggest single-day rally since 2008.
At the same time, over the past year, the dollar has lost 45% of its purchasing power against gold.
Who is the world’s biggest gold producer? China.
The Chief Development Officer at Newmont says:
“At an industry or societal level, somebody has to build more copper mines.”
This is the world’s largest gold-producing company.
We are facing a major copper supply issue, and governments seem to have no concern.
For now…
BREAKING NEWS
BHP EXPECTS THE WORLD TO CONSUME AN EXTRA 1 MILLION METRIC TONS OF COPPER PER YEAR ON AVERAGE UNTIL 2035
One of the world’s largest miners.
The glue of the economy will eventually run short of glue unless we start mining more.
“The mining giant expects the energy transition sector will account for 23% of copper demand by 2050, from 7% currently…”
The Chinese central bank said today that in September, it bought $28.52 billion of the country’s government bonds in open-market operations.
Here we go…
Open the floodgates.
Gold is the safety-raft in a flood of liquidity.
Gold is set for its biggest quarterly gain in more than eight years in US dollar terms.
