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America’s Adversaries Are Buying Gold Like a Nuke Is Going Off Tomorrow

Jun 28, 2019 | ZeroHedge |

America’s Adversaries Are Buying Gold Like a Nuke Is Going Off Tomorrow

Via ZeroHedge

Having tested $1300 numerous times over the past few years, gold has broken dramatically higher in the last month, hitting 6-year highs as President Trump rhetoric around the world raises tensions and increases the odds of WWIII.

The surge in the precious metal has accompanied a collapse in bond yields around the world and a record level of negative-yielding debt…

And while Gold volatility is soaring…

Demand remains abundant, as Goldman details in its latest note, raising its outlook for gold, countries with “geopolitical tensions with the US” are buying everything:

Central bank demand is gaining momentum and we now expect 2019 purchases to reach 750 tonnes vs 650 tonnes last year. Visible gold purchases YTD are running at 211 tonnes until April vs 117 tonnes over the same period last year (see Exhibit 11).

Importantly, China just raised its gold purchasing pace from 10 tonnes per month to 15 tonnes for April and May as it aims to diversify its reserve holdings.

You can read the full article at ZeroHedge: America’s Adversaries Are Buying Gold Like A Nuke Is Going Off Tomorrow | ZeroHedge