Gold rally: Why China and other central banks have buying up record amounts of gold

Gold (GC=F) has been on a tear driven by geopolitical tensions and the bullion's safe-haven appeal. Citigroup (C) is the latest in a lineup of Wall Street banks to upgrade its forecasts for the precious metal's price. Sprott Asset Management CEO John Ciampaglia and GraniteShares founder and CEO Will Rhind join Market Domination to discuss the primary drivers of gold's rise and future directions for the commodity.
On the magnitude of gold's strength, Ciampaglia states gold exited its slumber late last year after the Fed signaled a "pivot" was underway, a positive for gold as it competes with interest-bearing investments. Another key factor, Ciampaglia adds, is buying by central banks seeking to diversify away from US dollars as part of their overall foreign exchange mix. China is the leader in this particular de-dollarization strategy, Ciampaglia says, with Turkey, Singapore, and India following suit.
Noting gold's strength amid macro factors, Rhind believes gold could hit $3,000 per ounce if there is further unrest in the Middle East. The GraniteShares founder advises investors to play gold through its ETF for direct price exposure. Gold has unique attributes as a safe-haven asset, Ciampaglia says, balancing against traditional stocks and bonds during times of unrest.
Institutional investment in gold is lower at the moment, Ciampaglia adds, but if those dollars begin to enter the market, the commodity could be pushed to "new highs." The other "missing piece" in the gold market, Rhind says, is a "fear premium" that pushed the market to the highs observed in 2020.
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[generalchemistrywithmike]

Holy cannoli, they actually ran a story about silver and gold.

[NHJDT]

It's because the $ is being devalued at a massive scale. The gold is all moving to the east. That's true wealth. Folks, save yourselves and run to Costco and trade your worthless paper currency into physical gold and silver

[edited]

If you don’t hold it you don’t own it.!

[trailguy]

The question is why it’s taken so long for gold to rise after all the stimmy checks. Gold doesn’t track monetary inflation in lock step, but it does do it, the timing is on its own table. 40% of all dollars ever printed were printed in a short time, gold will account for it.

[Steiwerd]

Sell some of the gold and buy yourself a new mic.

[deepakshetty]

Metal Explorations (MTL), good earning, ROCE

[StephanieTroy-dpgp]

Gold appears like a wise investment, especially in light of the recent volatility in the market.

[siiwok]

DGP has doubled already...GLD all time high...NEM is still cheap..all will double soon again..

[john-zeeu]

It's most likely a major new buyer(s) stepping in and making huge purchases. Not central banks.. their buying is mostly reported and expected. It's a very wealthy individual(s) or family buying. A Zuckerberg or Musk type of money...

[Heerdennienaber]

What are the best additions to a $600k portfolio to boost performance?. ETH is Up and will do better, I believe as indicators for profits continue to improve, investors like me believe that "Santa has come early" to the markets...

[pshpcxt]

Го фармить скины! я уже покрутил ол ин кейсы, но пока получилось выбить только юсп) хочу калашик этот

[moonwalker]

As a generation z’er - what the hell is gold? Is this the 1800s ? Let me go grab my pick and shovel 😅

[sheepman]

1oz of physical in case of emergency and you need to pay a doctor and the power has been out for a month. The rest in ETF.

[SolomonTheStoryTeller]

gold is over hyped. it produces nothing.
it costs 1300-1400$ to produce an oz of gold. 2400+ for an ounce of gold is too much. I wouldn't buy gold for a thousand dollars more if i have dollars just as i wouldn't buy bitcoin for more than 30k knowing it costs roughly 20k to produce a bitcoin