Part 4/7:
Key Insights from China’s Gold Demand
China’s activities in the gold market have been particularly noteworthy. Despite a significant decline in domestic jewelry sales, there has been a remarkable surge in gold exchange-traded funds (ETFs). Assets under management for these funds have more than doubled, indicating a strong shift in investment preferences.
Gold purchases by China’s central bank have reached record highs, enhancing their gold reserves. Notably, unlike previous years, current patterns of central bank purchases may be underreported. Analysts from firms like Goldman Sachs discover discrepancies where the actual buying volumes exceed public disclosures.