Prices of gold baffle Wall Street - will it continue to rise? China plays an important role
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- čas přidán 14. 06. 2024
- #Chinainsights#Chinanews
In recent weeks, the price of gold has hit record highs on several occasions. On April 9, 2024, the spot gold price surpassed $2,348 per ounce, reaching a high of $2,365.4 at one point, up 8.9% in a month and up about 15% so far this year. For some on Wall Street, the surge in the price of gold is expected to continue at least through the second half of 2024. Some analysts believe that the time-honored credibility and consensus are being awakened, and gold is making a comeback. The fact that gold prices are soaring has Wall Street baffled, so what are the forces behind it?
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Everyone is buying gold because the shit is about to hit the fan
You are the first person to realize this in these comments. It isn't an economic crash coming. It's either an economic fracturing like what happened in the Cold War or a world war is expected to start. The video even points this out that China is trying to move away from using USD. The US dollar isn't going to crash without a lot more warning, so it isn't that worry causing this.
Of course, China also has a lot of its upper class that might be wanting to leave the country now that the real estate market has stopped growing, so they can't make money with investing there anymore, so they want out. This is very difficult to do and get one's money out of China through bank transfers or even cash. Gold on the other hand is small, and can go right on the private jet with you each time you go to your overseas trips.
Got land. Got physical gold. Got physical silver. Got garden. Got orchard. Got dry powder. Got happiness.
@@yedidyah-jedshlomoh1533 that's all well and good until the powers that be decide that you will own nothing and be happy
Fuck that. I'm hoarding Chlorox.
@@stevenkimdmd After a shelf life of six months, bleach starts to degrade. Concentrated bleach loses its effectiveness as a disinfectant after 1 year. I'll use alcohol from my pears if SHTF.
Theres not enough gold in the world to fulfill the gold futures contract. Most traders would rather take the money, and swap contracts than take the delivery of gold.
Not anymore. People are taking the gold in physical. Not even bothering with the futures market anymore. Currency devaluation has caught up and with all the notions of war that means more monetary expansion, more devaluation. The fact that gold rises as the DXY went up should tell you all you need to know. People are going into the dollar for safety from geopolitical risk and the smart money and central banks are buy gold because of the inflation risk going forward.
@@MaxPowersCFBthe physical delivery of gold is definitely pushing up the price as the gold ETFs have had net outflows. So it’s most likely a sovereign player like China. I don’t presume to know why they’re accumulating.
Almost all gold purchases are paper and not actually gold. It's a huge scam.
@@TheMysteryDriver The central banks are buying the gold. Seems like Thailand sold a lot of gold foolishly the first quarter.
@@Nick-gj6je Oh yeah Asia started this long ago quietly, especially China which is in an economic free-fall so everyone over there is buying physical.
Good video. I might point out one aspect of gold’s increase that wasn’t mentioned in the report: China has been buying gold in preparation for its move toward Taiwan. China well knows that the US will impose sanctions for such activity and is also aware of how Putin Got caught off guard when the US closed down the SWIFT system so Putin could not have access to some $300 billion that were frozen. That is a major reason why China is buying gold.
their gold will be seized if that happen..
@@controllerplayer1720how? China gold is in China. Don’t be ignorant.
@@controllerplayer1720 seized? how lol
@@TheBooban would only matter if they win the war, lets say that any gold from china are declared to have less value and mixed with other elements rendering it a fools gold, doubt they can use it to fund their war
@@amateurasian who is declaring that? We are not talking about private people. This is the central bank. No, they are not selling fake gold, precisely for that reason, being found out and declared worthless.
Gold is not edible, but food is.
Damn,that's a good point. Notice they aren't buying rice. Rice was literal currency in that part of the world for the majority of pre modern China.
Iron bowl won't help during famine 😢
How much and how long and how much space you need to store food?
just remember, lead isn't edible either...
Actually you can eat gold
yea but food expires, gold doesnt, so when talking about invesment gold beat food due to its longetivity, easy storage and small quantity yet huge amount equivalent
New York (Mar 1) Last year gold analyst, Alasdair Macleod, suggested that China had accumulated 25,000 tonnes of gold between 1982 and 2003. Simon Hunt Strategic Services (Hunt was the Hunt in Brook Hunt, one of the world’s top metals analytical teams current gold holdings are probably north of 30,000 tons in contrast to the USA which has either sold or leased most of its gold.”
Awesome video 📹 my buds
Dollar is going up and Gold is also going up. Both however, goes up in a different sentiment. The sentiment on Dollar going up is that its party (Eur, Gbp and several other countries) are not doing well. Therefore, a carry trade due to interest rate and growth difference made the Dollar strengthen up. Meanwhile, for Gold, it is going up on the first quarter of this year is due to investors thinking that the rate will be cutting sooner than expected. Other than that, there's the China and several Asia started buying and hoarding on Gold causing demand on Gold which causes the rise in Price on Gold. Also, theres the Geopolitical News where war and several other factors occurs somewhere also adds up the FEAR causing investor to run towards buying Gold.
Coolest narrators doing excellent work👍😎
If China hides that much gold, then the market price should fall.
Nope, Supply and Demand. When Demand on Gold increases then the price increases.
no , world discovers no gold to deliver when demand comes. hidden buys push price up at the end.
Helping the algorithm!
Good luck. Whatever they touch will turn to crap. Reversed mida's touch.
You know majority of it is fake stuff
that's a convoluted way of saying "everyone must fend for themselves" 😄
China: we are the biggest holder and buyer of gold surpasing america
US: thank you for your purchase, we have more for you to buy :D
More conspiracy theories
Like covid?
When the price of gold goes down ?
Then you lose.
they will buy even more. that is the problem.
Concerning is that the US refuses to audit its gold holdings ….. do they really hold over 8000t? If markets find out the US does not have it …..
DEFLATION should bring Gold down in price
The question, how much of it is that crappy gold plated copper?
Investing in gold sounds like a strategy rich people use to get richer, I'd rather buy from a local farmer, buy from a local bakery and invest in my local area and local gym. Get the people who grow my food, process my food the money they need to outlast bad times and the gym so I can stay in good health.
Investing in local communities makes them stronger and more resilient. Don't just enrich yourself.
The ultra rich don't buy gold as an investment because it has a horrible annual return. They buy companies and real estate and such. Listen to Warren Buffet talk about why buying gold is stupid
China is not telling you the gold holding, have you got the audit of Fort Knox?
Yes
Its laughable really. If your money becomes worthless who will buy your gold. People just run around scared of losing money. If financial market collapsed tomorrow...your gold will be worthless doorstops. In world way it is now no money or wealth is safe. Stop worrying...when you die ant take it with you. Live life..enjoy life. If focus is money u aint gonna be happy.
Terrible logic, there have been world wars and plagues throughout history and gold was still used.
spoken like someone without kids, young relatives, or any concern for anything beyond himself
would you rather that China exchange the hard earned foreign exchange through the blood sweat and tears of Chinese labor for endlessly printed greenbacks? if China takes control of gold price, it will allow gold to realize it's true value. We should all buy gold too.
I think I will stick to silver, thanks.
The premiums on silver are a bit much at the moment. Plat or au is good for now imho
Let's see how hard the Plunge Protextion Team will short the Commodities
17:30: Warren Buffett, laying down facts, as always. For a long time now, gold has been the pessimist's play, a hedge against disaster and the first option of outright doomers. Buffet reflects a cautious, reasoned optimism informed by intelligence as well as confidence in the future.
Chino bought gold in the open market. There is no secret! Gold is not a control substance.
14:00, that the Chinese citizens FELL for the sales pitch is stunning. With all the government theft and crime, WHY would they believe the companies would actually pay them interest? That alone tells me they do not have physical gold for deliveries. I feel bad for them, but they must stop being so naive and foolish.
US HAS THE MOST GOLD STORAGE IN THE WORLD. China owns 7k -10k ton
i doubt that half of those gold bars in the US were stolen and other were transferred into Snakezerland🐍 after the 9/11..
It used to be that money (notes) were virtual exchange for the value of gold or silver sovereign coins. Hence everything was pegged to the value of gold. However, by the 20th century, gold (plus other precious metals like silver) could not cover the value of everything in a mass-production industrial economy. This is now at an impossible scale by the 21st century since some items are mostly made by industrial robots. The relative value of currency, like the US dollar, has fallen, yes, but everything that used to be expensive has become quite cheap. Shoes for example (in my parents and grandparents day, shoes were damn expensive). Hedging on the value of gold (or silver) is unlikely to work. In places like China, with high unemployment and high food and energy costs, it makes some sense as the value of the China currency (the RMB) may hugely devalue through stagflation. But as soon as this seriously happens, the Chinese with horded gold will sell it in exchange for purchasing power in China and abroad, and the price of gold will significantly fall.
⚛️ Young Chinese 🇨🇳 people are buying Gold Beans ⚛️
Is the gold real or is it painted bricks?
They can have it. Gold is useful only for electronic connections, and ornamental jewelry.
It's just tungsten plated with real gold. Funny money. Leprechaun gold. As real as that apartment you paid for, but was never built or finished.
Not much of a secret.
Are any of you aware that gold is a major component in advanced electronics and that's the direction they want their economy to move in?
war is the why gold rise.
next generation of business students .
Silver and gold is real money!
2430 ！today is 2400🎉🎉🎉
I suppose I should purchase some silver, but it seems like a pain. Does anyone here know of a reputable website where I can buy silver?
Beware of the debt crisis and conspiracy theory around, including this channel. Safeguarding your own interests is the almost important.
cash is thrash, fiat currencies losing its purchasing power
Someone will just come along and steal it
Dem gold beans!
whoever controls the spice, controls dune.
in this case, whoever controls gold, controls the semi conductor industry.
Gold isn't going up, the dollar is going down.
Gold IS going up, but the dollar IS NOT going down. Open your eyes from your BRICS fantasies.
🐽
And now, you understand with money is not based on gold anymore! Because of country like chiner...
New trades shall happen in Gold and not USD. Thats the Brics plan to topple the usd
China was hoarding Gold from long ago, geez
The way they boosted about making fake gold with copper and gold "food coloring" type shit im not suprized most of that shit is fake or 2% real gold.
You can’t eat gold people.
China
lose the AI computer voice!
0:41 that's alot of storing.
1:46 sounds like unrestricted warfare at play...
4:14 the CCP has a monopoly in this field.
5:03 of course.
6:06 interesting analysis🤔..
6:50 Wall St.??
7:44 I'll look him up.
9:06 sounds like everyone is over reacting & gaming the system.
9:24 oh man.
10:01 it's my favorite lady Ms. Guo Jun🙂 & her reporting is very helpful🙂.
11:17 intresting advisor🤔
12:54 dang & double dang 🇲🇽
13:32 yeah, the supposed owners ran off w/ the gold😡
14:30 really CCP & this is why Li Keqiang was pissed off by the wasteful wealth distributing. No wonder he said, "tighten the belt around the waist".
14:33 that notice, is another loophole pitfall trap for any sucker who takes it.
15:06 another look at how the CCP's rule change in mainland China.
Indian civilians has 25000 tons
That is a lie....no one knows how much gold or silver has been mined. Allot of silver and gold mined is not even reported.
A lot? Nah.
It's interesting that no one really knows why gold is rising like it is. I suspect that it's a combination of many factors generally predicated on a growing faith in the magical powers of the yellow metal across all walks of society, now multiplied by e-traders leaping on board the runaway train, as they tend to do with momentum investments.
Poor people, sadly, think its worth something and can't find anywhere else to put there little bit of cash. But what they really want is real money to buy stuff and lots of it.
You can have plenty of businesses but all can drop to zero, that happened in history many times, that is why gold as a safe haven asset, Waffle theory is only right in the peace and prosperity world environment.
Chinese people are using gold to hedge against the falling Yuan. The only downside is Chinese gold is not pure. 😂
It continues to rise because:
1. People are now not feeling secure with the dollar (because it was used sanctions - i.e. political reasons)
2. People think that Investing in a specific country or currency is equally unsafe
3. People would rather have cash in hand in case further hardship comes in their way
All gold bugs always say the dollar is crashing so buy my gold. 1) Gold easily faked these days 2) Many people can "own" the same lump of gold 3) Not easy to get gold through airports.
4) These days you have to put your name to it and say where you got it from. 5) Price could crash when dealers decide its no good anymore
China is basically hoarding everything, and gold is just another exception, china knows that if they can hoard all gold, the CCP can peg its currency to the gold just like how the US use to do it, so that the world would have to use the Yuan and ot the USD because china has the most gold and the Yuan is pegged to it.
Not unless they refuse to pay the interest on their debt. The Yuan is worthless if most the world won’t accept it. To me just being speculative their easing their exposure to the usd to soften the pain the US can inflict upon them for invasion of Taiwan as well as their internal economic insecurities with their huge debt bubble.
The yuan is trash no matter what china does.
the rulers in china is like a mud brick that being coated with 8 carat gold..
Pure Chinese gold is only 22c 😂
I think china might have created another mistake with this one. Same vibe as property bubble burst. Somehow their mindset is always invest this or that, by buying stuff and hope the price going up. Just imagine billions of people having same thought buying the same stuff, of course it will bubble burst. Are they not thinking this through??
6:01 take notes 6:06
Gold is the only reliable way to save value now.
Gold isn’t an investment, it is something you horde when nothing seems stable enough to invest in. Whether that lack of stability is real (like in China with it’s Ponzi real estate and dodgy stock market) or hype (like when the the World Gold Council tells you we are in hyper inflation when we are really headed into a global deflationary recession). Gold is a commodity and increased demand results in more prospecting, mining and refining until the supply overtakes it and prices crash again.
The supply of gold will never overtake demand, because there isn't enough gold in the ground.
True, gold is one of few things on earth that could safe economy from downfall of a country. But i heard something else about china gold these days,.. there's few groups of ppl in china that diluted gold beads/bars value in china that makes the note still at 99.99% but actually isn't anymore. It even made chinese ppl worried to buy gold (i think it's the gold beads issue). I don't know if it's severe problem yet or not but theres few cases on that, maybe everyone should just be careful when dealing with gold these days.
This is a central bank, though. They back the money
When has the price of gold crashed though. If you look at a 50 year chart, I don't see any dips more than a couple percent.
the gold in the future will be worthless like the salt..
There is only so much Gold in the Earth to mine, while salt is pretty much an unlimited resource.
You can't eat gold.
Food and clean water are necessary for survival.
Beyond that are the niceties that ease the strain.
@@FrozenHaxorgold will be common in the future..
@@DavidCooper-vh4nr You can't eat a car, a couch, video games, etc. What's your point?
@@controllerplayer1720 Why? It's not like diamonds, there is no more being made. What is on the earth at this point only goes down. Any gold deposits that are still large and unknown are either to expensive to mine or under the sea (again too expensive to mine it).
Gold is a hedge, it's the safest bet with an average or %11 increase year on year. In 20 years it has however increased by %531.
The more wars there are, the most uncertainty there is in economies the more valuable gold is and at this point it's a surefire that America will always continue a war somewhere in the world from now on and it will only escalate.
Chinese government is bad doing these
Even not for the price. We like to hold weighty shiny solid metal than print toilet paper that can became useless anytime.
Gold is sesure then worthless dollars,as simple as that
In this moment, the Central Bank of the PRC is very wise to stockpile gold. This is for 3 reasons: (A1) USD still vastly dominates reserve currency holdings of other central banks; (A2) 99.5%+ of oil transactions are still made in USD, & (A3) the majority of international commerce is made in USD; (B1) the US, to its own disadvantage, is a Sanctions-obsessed, sanctions abusing power, placing any power that could challenge it in any way at risk, (B2) the US is unfairly punishing, isolating, & massively divesting from China, threatening its continued access to large amounts of USD, (B3) the PRC cannot issue USD or issue securities in USD. (C1) The PRC is in a pronounced economic recession, similar to US in 2008 & is lying about employment stats since 2022, maybe even since 2021 or 2020), (C2) The PRC must pursue a massive bailout of its property & likely banking sector & provincial governments, (C3) Because of B3, the PRC will need to stabilize its currency value internationally as it issues the needed stimulus & braves for potential attacks from US against its trade & currency.
Maybe it's just the lighting but a lot of that jewelry doesn't look quite right, a little "too gold", a little too bright. Since China is the land of fakes I'm sure a lot of this gold is a very watered down copper-gold alloy or gold-plated tungsten, which weighs the same as gold. I know that in another video a girl was complaining that the gold beans she bought were mostly fake according to a store she was trying to sell them too. Of course, since this is China, the store owner could be lying too. A low-trust society is Hell to live in.