PBoC gold reserves now stand at 2,235t, although this still represents only 4% of China’s vast international reserves.

The People’s Bank of China (PBoC) regained the crown for the largest single gold buyer as it reported a total rise of 225t in its gold reserves over the year.

Gold’s performance during times of crisis and its role as a long-term store of value are key reasons for central banks to hold gold

According to the WGC, “Central banks have been consistent net buyers on an annual basis since 2010, accumulating over 7,800t in that time, of which more than a quarter was bought in the last two years.

In just the last two years central banks have added over 1000 tonnes and have now stockpiled over 15,000 tonnes.

If you fear an imminent market crash or inflation surge, consider putting a small percentage of your net worth in gold simply as a defensive play — and to calm your nerves.

Many investors believe gold shares have a negative correlation with stock markets — that it tends to rise in value during stock market corrections and crashes.

Gold protects against geopolitical uncertainty.

Most investors largely consider gold a defensive investment. It offers some protection against risks like inflation and a weak U.S. dollar.

Wealthy investors even put more money into “investments of passion” such as fine art, wine, and cars than they do in gold.
These investments of passion make up 3% of the average wealthy investors’ portfolio .

The average ultra-high net worth individuals hold about 2% only of their net worth in gold.

The average ultra-high net worth individuals (UHNWI) with a net worth over $30 million own a little gold.

Patience is needed here.

Expected lah. 😄😄😄

😴

Highly possible lah. 😁😁😁

Gold is one of the best-performing asset classes, if not the best, in the last 50 years.

The current gold's rally is an important breakout and gold will work its way higher.

Once gold breaks out and moves to new highs, it generally runs for a while.

Gold prices can hold steady and move higher.

Gold price is below production costs now.

Gold stocks have lagged in part because production costs have gone up 35% since early 2020, mainly due to higher labor costs. This is one reason why gold stocks are unlikely to hit their old highs unless gold moves a lot higher. But if the gold price rally simply continues, the miners will join in and rally.

If gold prices persist, gold stocks will have a good move, because they are not pricing in the increase in the price of gold.

Gold prices are soaring and the mining stocks are just starting to catch up.

New Highs Next Week Could See Gold at 2,348

The Reserve Bank of India (RBI) stood out with its continued accumulation of gold reserves. Weekly data from the RBI revealed a 6-tonne increase in gold holdings in February alone.

This brings the total year-to-date buying by the RBI to over 13 tonnes, with total gold reserves now reaching 817 tonnes.

Barrick Gold Corporation (NYSE:GOLD) shares are trading higher Friday, and the stock has gained more than 7% over the past five days.

Unlike paper currencies, gold has intrinsic value as it is a rare commodity that is difficult to extract. It also has multiple economic uses, in electronics, dentistry, medical tools, and the defense, aerospace, and automotive sectors.

Even after nearly 18 months of buying, China's gold reserves account for roughly 4% of the PBC's total reserves. That figure is well below the reserve threshold by the central banks of developed countries.

The World Gold Council analyst expects central banks' gold purchases to continue for several years.

China's central bank now holds roughly 2,257 tons of gold in its vaults.

In January and February alone, the PBC increased its gold reserves by 22 tons.

The People's Bank of China has been adding to its gold reserves for the past 16 months in a row, according to the World Gold Council. In 2023, the PBC bought more gold than all other central banks.

sokong ! 😋

Maybe it is just guesscast onli ? 😁😁😁

Top 5 reasons for gold, silver price rally:

Those 5 reasons are the bets of the US Fed rate cut, rising geo-political risk, aggressive buying by China, uncertainties ahead of general elections in major economies, and depreciating all fiat currencies.

Nine experts, or 75%, expected to see gold prices climb even higher next week, while only one analyst, representing a paltry 8%, predicted a price decline. The remaining two experts, or 17%, said headwinds and tailwinds were too close to call next week.

The Reserve Bank of Zimbabwe announced that on April 8, the government will launch a new currency backed in part by gold.

Between 2000 and 2022, a gold investment would have yielded over 500% return versus the S&P at 300% return 😁😁😁

coming soon ? 😀😀

Nice n chip. Just close eye and sapu kuat kuat ! 😋😋😋

Poh Kong ... veri chip, just buy n keep. 😄😄😄

Jewellers are heaving a sigh of relief as the High-Value Goods Tax (HVGT) has been deferred, even if only temporarily. The government announced on Thursday (March 28) that the plan to implement the HVGT from May 1 has been indefinitely shelved as the Finance Ministry had not presented the Bill in Parliament yet.

😴

Tomei ... go for it ! No selling, please. 😁😁😁

Tomei ... now in uptrend mode ? 😋😋😋

On a long term basis, gold is always a 100% sure winner !!! 😄😄😄

It’s a long-term store of value. You should have at least 10% of your portfolio in gold.

Gold is one of the best-performing asset classes, if not the best, in the last 50 years.

Between 1971 and 2022, gold had average annual returns of 7.78%.