Why Central Banks Are Betting Big on Gold
Gold prices had their best October in nearly half a century, despite strong resistance from rising Treasury yields and a strong US dollar. The yellow metal rose a staggering 7.3% last month, closing at $1,983 an ounce, its strongest October since 1978, when it rose 11.7%.
Gold, a non-yielding asset, has historically struggled when bond yields rise. However, an exception was made this year for some significant economic and geopolitical risks, including record high national debt, rising credit card delinquencies, anxiety of an ongoing recession (despite Jerome Powell's insistence that a recession is no longer part of the Federal Reserve's plans). forecast) and two wars.
The list of biggest buyers in the third quarter was dominated by emerging markets as countries continued to diversify away from the US dollar. Leading the way is China, adding 78 tons of gold, followed by Poland (more than 56 tons) and Türkiye (39 tons).
Gold, a non-yielding asset, has historically struggled when bond yields rise. However, an exception was made this year for some significant economic and geopolitical risks, including record high national debt, rising credit card delinquencies, anxiety of an ongoing recession (despite Jerome Powell's insistence that a recession is no longer part of the Federal Reserve's plans). forecast) and two wars.
The list of biggest buyers in the third quarter was dominated by emerging markets as countries continued to diversify away from the US dollar. Leading the way is China, adding 78 tons of gold, followed by Poland (more than 56 tons) and Türkiye (39 tons).
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BUY XAUUSD 1968 - 1965 +40 PIPS 🟢🟢
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🟢TP1: 1978
🟢TP2:1975
❌SL: 1990
💵 XAUUSD BUY 1968 - 1965
🟢TP1: 1975
🟢TP2:1980
❌SL: 1960