China’s gold imports soar, central bank buys for 17 months straight.

China’s insatiable hunger for gold intensifies with a staggering 2,800 tons imported over the past two years, solidifying its status as a global powerhouse in the precious metal market. As the country’s central bank continues its relentless purchasing spree for 17 consecutive months, gold emerges as a coveted asset, outperforming traditional benchmarks like the S&P 500. With gold’s meteoric rise of over 15% year to date and mounting speculation of a $3,000 price target, China’s gold rush underscores shifting financial landscapes and growing concerns over inflation amid loose U.S. financial conditions.

And gold is one of the best performing assets year to date.

It is up by more than 15% year to date while the S&P 500 rose by only 4%.

Over the last five years, it has returned ~89% versus the S&P 500 gain of 71%

Is gold heading to $3,000? See👇t.co/D1syfNMj3N

— Global Markets Investor (@GlobalMktObserv) April 21, 2024

You can't make this up.

US financial conditions are looser than before the first rate hike that occurred in March 2022, according to the Chicago Fed’s National Financial Conditions Index (NFCI).

No wonder why inflation is rising when the hikes and QT have had almost no effect. pic.twitter.com/ho1EY47SQH

— Global Markets Investor (@GlobalMktObserv) April 21, 2024