Tiny sells7 Dec 2022 16:00
Small sells today. I can not understand why people are selling such tiny amounts when this share is about to take-off. The Bank of England is about to raise rates again and inflation is not cooling.
Meanwhile, “China has confirmed what many commodity analysts have long suspected was happening for most of this year: it is loading up on gold again.”
https://www.kitco.com/news/2022-12-07/China-buys-32-tonnes-of-gold-in-November-first-increase-in-reserves-since-2019.html?sitetype=fullsite
“Early Wednesday, the People's Bank of China reported that it bought 32 tonnes of gold in November. According to reports, the central bank bought gold when prices were around $1,650 an ounce.
In a Twitter comment, Kristan Gopaul, senior European, Middle East and Asian market analyst at the World Gold Council, noted that this is the first time the central bank has announced a change in its gold reserves since September 2019.
Gopaul added that China's gold reserves now stand at 1,980 tonnes.
While the announcement from China's central bank has come out of the blue, it is not a surprise as many analysts speculated that the nation has been building its gold reserves through most of the year.
Last month the World Gold Council said that central banks bought 400 tonnes of gold in the third quarter. The WGC noted that this is the largest single quarter of demand from this sector, according to their records.
However, the WGC also noted that much of this gold was purchased anonymously.”
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