China’s Central Bank Buys 100 Tons Of Gold As Trade and Dollar Tensions With U.S. Escalate

◆ China has added more than 100 tons of gold bullion bars to its gold reserves since it resumed buying in December; China’s gold holdings rose to 62.64m ounces in September, an increase of 190,000 ounces in one month

◆ The People’s Bank of China (PBOC) increased it’s gold reserves for a 10th straight month in September, reinforcing its standing as one of the major official accumulators as many creditor nation central banks stock up on the precious metal

◆ China and central banks around the world need a hedge against their massive, near non yielding dollar holdings and central banks are trying to reduce their exposure to the dollar

◆ Investors globally need a hedge due to their massive dollar and negative interest rate bond and fiat currency exposure

NEWS and COMMENTARY

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Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

07-Oct-19 1502.15 1501.25, 1221.40 1218.11 & 1369.36 1365.54
04-Oct-19 1509.50 1499.15, 1223.75 1220.01 & 1374.70 1366.78
03-Oct-19 1504.00 1517.10, 1221.70 1223.84 & 1372.25 1380.26
02-Oct-19 1484.05 1492.60, 1213.21 1215.13 & 1359.84 1364.68
01-Oct-19 1466.10 1473.45, 1193.11 1206.17 & 1345.29 1349.97
30-Sep-19 1487.60 1485.30, 1208.38 1206.06 & 1361.75 1362.17
27-Sep-19 1496.15 1489.90, 1218.17 1209.05 & 1369.58 1362.51
26-Sep-19 1507.05 1506.40, 1223.72 1219.28 & 1378.50 1374.89
25-Sep-19 1530.85 1528.75, 1231.11 1234.62 & 1391.24 1391.77
24-Sep-19 1520.25 1520.65, 1220.76 1216.67 & 1382.36 1381.36
23-Sep-19 1519.50 1522.10, 1222.13 1225.90 & 1385.48 1385.11