Today one of the greats in the business sent King World News some remarkable charts along with his commentary. One thing is certain, what is happening in the gold market is stunning.
January 15 (King World News) – Eric Pomboy, Founder of Meridian Macro Research: De-dollarization momentum has just hit a milestone: Value of Foreign Central Bank Gold Holdings relative to US Treasury holdings has just hit the 50% mark for the first time on record.
A look at Central Bank Value of Gold Holdings relative to US Treasury Holdings.
China’s Gold Hoard
China added 12.4 tonnes to their Gold reserves in November to a record 2,227 tonnes. The value of their Gold holdings relative to US Treasury holdings is approaching 20%.
BRICS Gold
BRICS official Gold holdings are steadily catching up to that of US and Eurozone.
King World News note: China and the rest of the BRICS countries continue to accumulate physical gold. This is because gold is going to be reintroduced back into the monetary system. As this process unfolds the price of gold will be revalued significantly higher over time.
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To listen to Alasdair Macleod discuss today’s wild trading in the gold, silver, and crude oil markets CLICK HERE OR ON THE IMAGE BELOW.
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