Gold Telegraph
@GoldTelegraph
The Canadian dollar is the worst performing G10 currency this year. The only country without official gold reserves. How sad is this?
BREAKING NEWS: THE RESERVE BANK OF INDIA SAYS THE SHARE OF GOLD IN INDIA’S FOREX RESERVES HAS DOUBLED IN 4 YEARS BRICS…
They are also bringing their gold home.
“Reserve Bank of India reports a significant increase in gold reserves. The share of gold in forex reserves has doubled since 2021…”
Trust is breaking down. Gold requires zero trust.
BREAKING NEWS: THE SHANGHAI GOLD EXCHANGE PLANS TO EXPAND ITS WAREHOUSE NETWORK TO HONG KONG… BOOSTING THE PROFILE OF ITS YUAN-DENOMINATED PRODUCTS
Boom.
“The central bank indicated the initiative would promote yuan-denominated benchmarks…”
THE SHANGHAI GOLD EXCHANGE IS NOW EXPANDING…
Here’s a clip from my conversation last December with mining legend Pierre Lassonde, where he warned:
“The day the Shanghai Gold Exchange surpasses the COMEX in transaction volume is the day gold pricing shifts from the West to the East.”
Yesterday, news broke that the Shanghai Gold Exchange is establishing a warehouse in Hong Kong, a clear sign of strategic expansion.
The goal?
Boost global adoption of yuan-denominated gold products and challenge the pricing dominance of COMEX and LBMA.
We are starting to see record volumes on the Shanghai Futures Exchange amid heavy retail buying.
Is the East vs. West on gold pricing starting to play out?
