"The scale and persistence of Chinese buying is now a core driver of global gold prices and we expect it to hold as long as uncertainty over growth and geopolitics remains..."

...nobody expects silver to move much, and the few who do expect it to move lower. That is a combination that tends to precede the opposite...

"Absolutely this will impact sourcing": Western gold refiners face a squeeze as central banks buy 91 tonnes a month, 5x the pre-2022 pace

"Taken together, the case for further diversification into gold remains significant" for central banks...

Add South Korea to the list of countries taking tentative steps to hedge their exposure to the US dollar, and fiat in general.

Once you understand their tricks, powers and historical failures - it's almost too easy. Gold is no longer a debate; it's the solution...

Silver's backlog and gold's collateral role...

central banks purchased 44 tonnes in July (more than double the pre‑2022 average of 17 tonnes), with the largest contribution once again coming from China, which purchased 35 tonnes in July, nearly double the officially reported 19.9 tonnes in gold purchases.

$6 billion is nothing...

China's solution to geopolitical chaos and financial warfare is to buy physical gold...

...the sickness is global and currency-killing...

A survey of central banks found that 89 percent of respondents forecast global central bank gold reserves to rise over the year.

...the move strengthens its "crisis preparedness."

Gold is likely to grind higher even after the latest hawkish message from The Fed...

Almost every government action reduces risk for some group and repackages the risk and forces another group to bear it...

"while many investors were largely disengaged only a few weeks ago, the recent price action appears to have captured broader market attention."

Once treated as the dollar’s mortal enemy after 1971, gold may now be Washington’s only remaining fiscal escape hatch as debt, hidden QE, and a weaker greenback force a historic revaluation...

"We’re comfortable holding length due to dollar pressure ("release valve"), gradual Central Bank re-engagement, and strong Chinese imports. Franchise flow picked up significantly this week, combination of 3-6m digis and outright buying targeting between 4800 – 5500"

There is no longer a clean "we don’t know who the legitimate government is" excuse...

The reasons for owning gold therefore have not changed, and demand is beginning to reflect that. Expect price to follow...