'China's Ready to BLOW IT ALL UP, It'll Change Gold Prices FOREVER' - Andy Schectman

Central banks have played a crucial role in supporting gold prices, which have surged to record highs, exceeding $2,450 an ounce. However, the pace of their gold purchases slowed down in May. This became especially apparent when China, after 18 months of consistent gold buying, reported no acquisitions for May, which unsettled the gold market. However, experts suggest that this pause doesn't signal an end to China's gold-buying strategy. They point out that China's gold reserves still comprise only 4.9% of its total foreign reserves, indicating its ongoing acquisition efforts.

Andy Schectman, CEO of Miles Franklin, argues that Western media often misinterpret such pauses, incorrectly suggesting that China has halted its purchasing activities. China's strategic moves reflect a continued effort to accumulate gold and silver, even at higher prices. For instance, by the end of July, the price of COMEX gold futures was slightly above those on the Shanghai Gold Exchange, aligning with China's broader economic strategies. This situation indicates China's ongoing efforts to leverage arbitrage opportunities.

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Credit: Liberty and Finance
China's Not Nearly Done Buying Gold | Andy Schectman

#gold #goldpriceprediction #andyschectman #silver #silverprediction #silverprice

[bno]

I don't trust the fiat paper currency, but I trust gold. Thank you for your insight!

[Marky-jo]

They can report whatever they want . And do the opposite, think about it, they don't want anyone to know what they're doing.

[joakimgasslander]

Will double in price quickly. A no brainer.

[dawnfarris]

They will soon cut rates due to recession. Buy the dips in gdx and hold.

[dirkfrazier]

The comments got sleezy all of a sudden!

[iancassie]

IN IRAN JAPAN INDIA CHINA THERE HAS TO BE OVER 100 THOUSAND TONNES OF GOLD versus the fort nox HOLOGRAMED OWNERSHIP OF GOLD

[XiaodongWang-qtoy]

I fully believe it is understated. Chinese share a lots of common characters with Jew.

[TheTeaserking]

Derivatives paper gold, china never stopped. Price fixed since 1971

[HouseofDavid]

when Iran responds and if they respond BIG, it will jump...

[veracityseven]

To not believe what they are telling you is a zero-sum game. You know they are lying, and they know you know they are lying, however, the price remains artificially suppressed...for decades. Knowing the truth seems to only lend itself to greater and greater levels of frustration. I can definitely see why the guy wanted to be re-inserted into the Matrix (I don't agree, but I can understand).

[johnziruolo]

🎉🎉🎉NOT WHEN THEY😢 HAV TO PAY. GOLD FOR 😮😮😮😂❤

[lucysluckyday]

People have been saying it would blow up for over 20 years. I guess after 20 years it has gone up a lot, but it's really just the same thing from one generation, then a new gen rises and says the same thing. You get to the end and think, "it didn't blow up". That's because it never blows up. What these people won't tell you is that the get all this from psychics. They hear a psychic telling people it's going to be amazing and they just parrot it as though they know for sure. No one knows anything though!