Gold Nears Record Territory as Central Bank Moves and Demand Converge

The price of gold is once again approaching its all-time highs, propelled by a key decision from the U.S. Federal Reserve and sustained, robust demand from major institutional buyers. While the central bank’s chairman has signaled a potential pause, the underlying fundamentals for the precious metal remain strongly supportive.

A primary engine behind gold’s strength is the consistent purchasing activity of the People’s Bank of China. For the thirteenth consecutive month, China’s central bank added to its reserves, acquiring an additional 30,000 fine ounces in November. This ongoing strategy, aimed at diversifying away from the U.S. dollar, has elevated China’s total holdings to 74.12 million Read more...