Gold rush against America: BRICS load vaults with record bullion, silver surges, dollar’s global grip faces biggest threat since 1944

by

The Gold rally has accelerated since August and delivered a +12% return over the past month – 98th percentile for monthly returns since 1980 – supported by rising futures positioning and ETF inflows, as well as a seasonal pick-up of central Bank demand.

The Gold rally has accelerated since August and delivered a +12% return over the past month – 98th percentile for monthly returns since 1980 – supported by rising futures positioning and ETF inflows, as well as a seasonal pick-up of central Bank demand.

Overnight, however, Gold climbed to a fresh record, with traders weighing China’s new plan to become a custodian of foreign sovereign gold reserves.

Bloomberg reports that The People’s Bank of China is using the Shanghai Gold Exchange to court central banks in friendly countries to buy bullion and store it within the country’s borders, said the people, who spoke on condition of anonymity as the discussions aren’t public. The effort has taken place over recent months and has attracted interest from at least one country, in Southeast Asia, the people said.

https://www.zerohedge.com/precious-metals/gold-hits-new-record-high-china-moves-de-westernize-global-bullion-market