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Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.
Central bank buying has been a significant driver of gold’s price gains since the Russian invasion of Ukraine in 2022, and China has led the sovereign buying during that period. High prices have dampened demand in recent months, however, with sovereign gold purchases declining 58% month-over-month in February., with net imports from the Special Administrative Region coming in at 39.826 metric tons, data from the Hong Kong Census and Statistics Department showed, far lower than the 76.
“The world hasn't woken up yet,” Lassonde told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, during Kitco Insights Interactive Mining Titans' Power Panel. “The marginal buyer of gold is no longer the U.S. It's no longer Europe. It's China. Between the country's central bank and the Chinese public, China takes up over two-thirds of all the annual production.”
– Gold appears overbought and due for an imminent correction, while silver is seeing support from both the investment community and industrial demand, according to precious metals analysts at Heraeus.Gold price sees another 5% rally this week as geopolitical uncertainty drives the market to touch $2350
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