We are all living in the last decade of global U.S. Dollar dominance. If you don’t understand that by now….you better wake up. China-Japan currency swap agreements, Central Banks across the world buying Gold, and now China…slowly…step by step converting their $3.2 Trillion FX horde into Gold. The have only 2% of their reserves in Gold and will be on a Gold buying rampage for the next decade.The U.S. has 78% of their global reserves in Gold.
For our CMR subscribers, we have a 5 page report on Gold buying in China in our January Newsletter. You should not miss this.
The news just out….Mainland China’s imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October. This is a 20% increase from the already high number seen in October and a 483% y/y increase.
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