China Is Putting A Massive Floor Under The Price Of Gold

China is putting a massive floor under the price of gold.

October 16 (King World News) – Casey Donaldson:  China is putting a floor under the gold price and most people haven’t noticed.

Every time gold dropped China accelerated its purchases.

March: 4.98 tons. Gold at $5,400.
April: 8.09 tons. Gold at $4,600.
May: 9.95 tons. Gold at $4,400.
June: 14.93 tons. Gold at $4,200.
July: 19.91 tons. Gold at $4,100.
August: 20.22 tons. Gold at $4,300.
September: 23.02 tons. Gold at $4,300.

The lower the price, the more they bought.

September marked China’s largest monthly purchase in 3 years.

23 consecutive months of official gold buying is not trading.

China is draining physical gold from global markets to build a gold backed financial system to replace the dollar.

Retail investors are selling gold because interest rates rose.

China is buying every ounce they can find.

You need to be stacking gold for what is coming…

Listen to the greatest Egon von Greyerz audio interview ever
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My Favorite Sectors
Peter Boockvar:  My favorite two sectors that we own remain commodity stocks, particularly in energy, precious metals, agriculture and uranium and also the beaten and battered consumer staples stocks with some of the best dividend yields in the market. As I also believe the fate of the US dollar is in the hands of this AI trade, having international stock and bond exposure I think is important too with a lot of cheap stuff overseas, like in the UK, Brazil, Singapore, Vietnam, China and even France.

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