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Parent Post: What is going on with gold?
heaveho
·
2/19/2025, 12:53:45 AM
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This recent spike in the yellow metal originated from China purchases that started in Sept 2024. The purchases came out of the LBMA (one of the main bullion banks based out of London) because the prices there were lower than in China. Now that that difference is closed out, there is speculation that the Comex (bullion bank in NYC) is protecting itself so that it can maintain delivery. I am skeptical that Ft Knox is "out of gold" or even significantly down. If so, that would be very good for the price of gold. I see this more of a revaluation of debt and a way for China as well as other countries purchasing gold as a form of alternate savings and insurance of currency debasement. I believe the US is recognizing this and acting accordingly.
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