Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by ahbah > 3 weeks ago | Report Abuse

New Highs Next Week Could See Gold at 2,348

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by ahbah > 3 weeks ago | Report Abuse

Gold price is below production costs now.

Posted by ahbah > 3 weeks ago | Report Abuse

Gold prices can hold steady and move higher.

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

😴

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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 .

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

Gold protects against geopolitical uncertainty.

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by speakup > 3 weeks ago | Report Abuse

Apa crash crash ni? Now is super bull run lah. Releks lah

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

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.

Posted by ahbah > 3 weeks ago | Report Abuse

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

Posted by ahbah > 3 weeks ago | Report Abuse

The National Bank of Poland was the second largest buyer in 2023. Between April and November, the central bank bought 130t of gold, increasing its gold holdings by 57%, to 359t.

Posted by ahbah > 3 weeks ago | Report Abuse

Central bank purchases are only one of the three key drivers of the unprecedented rise in gold prices recently. A major concern is a dramatic uptick in geopolitical concern regarding the Middle East conflict as the real concern is that Iran will retaliate against Israel for its suspected bombing of the Embassy in Syria. Lastly, most analysts agree that gold will move higher once central banks, including the Federal Reserve begin the process of cutting their key benchmark interest rates.

Collectively, these three key driving factors taking gold higher will continue to move the precious yellow metal higher into what is now unknown price territory.

Posted by ahbah > 3 weeks ago | Report Abuse

The People's Bank of China continued its streak of increasing gold reserves for the 17th consecutive month, bringing its total reserves to 72.75 million troy ounces in March.

Posted by ahbah > 3 weeks ago | Report Abuse

For this year, Turkey, India, Kazakhstan, and some Eastern European countries had also ramped up their gold purchases.

Posted by ahbah > 3 weeks ago | Report Abuse

Bank of America has projected gold to rally to as much as $3,000 an ounce by 2025.

Posted by ahbah > 2 weeks ago | Report Abuse

The ECB held interest rates at a record high but signaled it could start cutting as early as June.

Posted by ahbah > 2 weeks ago | Report Abuse

Gold is the only metal that is yellow. Other metals may develop a similar color, but only after they have oxidized or reacted with other chemicals.

Posted by ahbah > 2 weeks ago | Report Abuse

There is a small amount of gold in some meteorites and other space debris that fall to Earth. In fact, some scientists believe that much of the Earth's gold may have originally come from outer space.

Posted by ahbah > 2 weeks ago | Report Abuse

Nearly all the gold on Earth came from meteorites that bombarded the planet over 200 million years after it formed. The Earth's crust and mantle contain gold

Posted by ahbah > 2 weeks ago | Report Abuse

Au is the element symbol for gold and comes from the Latin name aurum, which means "shining dawn" or "glow of sunrise."

Posted by ahbah > 2 weeks ago | Report Abuse

Gold is relatively unreactive and resists degradation by air, moisture, or acidic conditions. While acids dissolve most metals, gold is dissolved using a special mixture of acids called aqua regia.

Posted by ahbah > 2 weeks ago | Report Abuse

Pure elemental gold is 24 karats, while 18-karat gold is 75% pure gold, 14-karat gold is 58.5%, and 10-karat gold is 41.7%.

Posted by ahbah > 2 weeks ago | Report Abuse

Gold is usually found in rivers and streams. This is because the flowing water washes away lighter materials and leaves behind the heavier materials, like gold.

Posted by ahbah > 2 weeks ago | Report Abuse

While the concentration of gold in seawater is extremely low, there's an estimated 20 million tons of gold dissolved in the oceans.

Posted by ahbah > 2 weeks ago | Report Abuse

Some plant species are known to absorb trace amounts of gold from the soil. Scientists have even experimented using plants to extract gold from contaminated soil.

Posted by ahbah > 2 weeks ago | Report Abuse

For centuries, gold has been used for fillings, crowns, and other types of dental work.

Posted by ahbah > 2 weeks ago | Report Abuse

ome people have discovered that their hair contains small amounts of gold. This is likely due to exposure to the metal in the environment.

Posted by ahbah > 2 weeks ago | Report Abuse

Although gold is a heavy, dense metal, it's generally considered nontoxic. Therefore, gold is sometimes used as a food additive, particularly in luxury restaurants.

Posted by ahbah > 2 weeks ago | Report Abuse

Gold is also being incorporated into drinks, such as the popular cinnamon schnapps Goldschläger. Each bottle contains small fragments of gold foil that can be consumed.

Posted by ahbah > 2 weeks ago | Report Abuse

Gold is sometimes used as an anti-inflammatory, antioxidant, and anti-aging ingredient in cosmetics and beauty products. However, the amounts used are typically very small.

Posted by ahbah > 2 weeks ago | Report Abuse

Gold is super flexible, and a single ounce of gold (about 28 grams) can be stretched into a gold thread that's 5 miles (8 km) long. Gold thread and embroidery have been used in textiles for centuries, especially in royal clothing.

Posted by ahbah > 2 weeks ago | Report Abuse

In every single vehicle that NASA launches into space, gold is used in several ways. The metal is used in the circuitry, as well as to lubricate the mechanical parts. It's also used to coat the inside of the spacecraft, protecting the astronauts from infrared radiation and extreme temperatures.

Posted by ahbah > 2 weeks ago | Report Abuse

A natural conductor of electricity, televisions and computers contain small amounts of gold. Also, older items like cameras and radios tend to have gold within their circuit boards.