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India and China are secretly purchasing large quantities of gold. For those who accept the Western banking narrative that “gold is dead” and “bitcoin is the new gold,” go no farther than the actions of two nations that are home to 36 of every 100 people on the earth. Last year, retail consumers in China increased their gold consumption by more than 33% year on year, despite this significant news going unnoticed during the bitcoin mania, which saw two epic collapses from 2021 highs of about $65,000 and $69,000, respectively, in April and November before both price highs collapsed by more than 50% in relatively short time.
Due to the Western financial media’s concentration on cryptocurrencies, particularly Bitcoin, which is explicitly meant to syphon money away from actual gold purchases, no one commented on the insatiable gold appetites of the world’s two most populous nations.
Unfortunately, the Chinese still don’t fully understand which form of physical gold will be most beneficial to wealth creation in the long run, as evidenced by their consumption patterns, in which gold jewellery consumption increased by a whopping 711.29 metric tonnes (45 percent) year on year, while gold bars/coins (the better buy) increased by 312.86 metric tonnes last year (26.87 percent ).
Furthermore, following another year of disappointing gold market behaviour, conditions are ripe for the price run we’ve all been waiting for, with China’s production output falling by 10% to 329 tonnes in 2021.
Swiss gold exports, 2021
However, as shown in the Switzerland gold import chart above, China and India increased their gold imports last year, while England and the US decreased. Last year, India raised imports by 359 tonnes year on year to 507 tonnes, the most since 2015 and more above their average annual imports of 400 tonnes from 2012 to 2019. China boosted its Swiss gold imports by 296.5 tonnes year on year to 354 tonnes in 2018, the highest level since 2018, but still well behind the 600 tonne average import figure from 2012 to 2019. (all figures are combined Hong Kong and mainland China data).
However, in the midst of the banking war, it should not be forgotten that US gold imports from Switzerland in 2020 actually slightly outnumbered India’s gold imports from Switzerland in 2021 (507.5 to 507.2 metric tonnes), despite the US banking cartel publicly demonising gold every chance they get in the mainstream financial media. That data plainly shows that, despite several public assertions to the contrary, the US banking cartel does not consider gold to be “dead.” Only Canada, driven by uneducated politicians with no knowledge of sound money, was foolish enough to dump all of its national gold reserves, whilst the US is still accumulating them, as seen by Swiss gold export statistics.
However, despite this optimistic data from Asia that has gone virtually unnoticed in the mainstream financial media, It is predict gold prices will fall from the present $1800 level during the week of 31 January 2022 to 6 February 2022.
Finally, consider wholesale gold demand in China, as reported by the Shanghai Gold Exchange (SGE). The SGE handles the majority of wholesale gold imported into and sold in China (at least according to the PBOC), therefore if accurate, SGE data gives considerable insight into wholesale gold demand yearly. According to SGE data, in 2021, 8,127.9 tonnes of gold were supplied, 13,628.4 tonnes were exchanged, and 1,745.7 tonnes of gold were withdrawn, compared to the stated (by the WGC) 2021 world gold output of 3,561 tonnes.
Furthermore, when this is compared to the total COMEX registered and pledged inventory of 19.1 tonnes of gold that backs all gold derivatives trading in New York, it is simple to see the fraud that is occurring in NY gold futures markets trading.