The Trump Card has fueled the rally in the gold market along with this stunning development.
Massive Central Bank Gold Buying
February 12 (King World News) – Gerald Celente: Central banks bought more than 1,000 metric tons of gold last year, accounting for about 20 percent of the market. It was the third consecutive year in which the banks bought gold in such large amounts.
A metric ton weighs 1,000 kilograms or about 2,204 pounds.
In 2024, demand for gold reached 4,974 metric tons, a new record, the World Gold Council (WGC) reported. In the fourth quarter, the price averaged $2,663 per ounce, also a record. Through all of last year, the price averaged $2,386, leaping 20 percent above the previous year’s average.
“The combination of record gold prices and volumes produced a fourth-quarter value of $111 billion” in transactions, the WGC reported. For all of 2024, transactions reached “the highest-ever annual value of $382 billion.”
Outside of central banks, over-the-counter gold sales reached a four-year high, while investment in exchange-traded gold funds remained about flat. Over-the-counter sales comprised 1,179.5 metric tons, up 25 percent from 2023’s level.
India was again the leading nation for purchases by individuals as China’s ongoing economic struggle forced consumers there to hold onto their cash.
Demand for gold bars and coins reached 1,186.3 metric tons, roughly equivalent to 2023’s level.
As demand grew last year, so did the supply of gold, expanding by 1 percent in 2024 to 4,974.5 metric tons.
Continued inflation, uncertainty in equity markets, slow economic growth in China and Europe, and tensions in global trade will keep gold’s market strong this year as investors seek safety, the WGC noted.
“We see tailwinds for gold exchange-traded funds (ETFs), over-the-counter sales, and futures-based investment stemming from generally lower interest rates, richly valued equities, a softer U.S. dollar, and geopolitical risk, mostly expressed through trade and economic uncertainty,” the WGC’s annual report for 2024 said.
More investors will put money into ETFs but demand for gold bullion and coins could slacken because high prices and high interest rates are crimping consumers’ budgets, it added.
Those high prices also cut sales of gold jewelry last year, dropping purchases by 11 percent from 2023 to 1,877.1 metric tons.
“With the exception of COVID-stricken 2020, we need to go back to 2009 to find the last comparable year for gold jewelry demand,” the council said.
India’s demand for gold jewelry was off by 2 percent in 2024. However, “the fact that annual demand only shrank by 2 percent during a year in which the gold price reached multiple record highs is a testament to the resilience of gold jewelry demand in India, highlighting the country’s relatively healthy economic growth,” the WGC pointed out.
“In the West, economic malaise and high prices are likely to weigh on demand, as will declining inflation fears and conflict risk, but lower interest rates might attract European activity in the second half of the year,” it said.
“Republican [U.S.] presidencies have historically been accompanied by below-average bar and coin demand; however, the geopolitical environment could soften the pullback.”
TREND FORECAST:
The Trump Card of escalating trade tensions that may escalate into trade wars and his increasing sanctions on Russia and Iran while the Israel War keeps heating up—and with no end in sight for the Ukraine War—are Wild Cards that have driven up gold prices to new highs.
What is very important to note is that trends are born, they grow, mature, reach old age and die. And the Trump Card is only three weeks old… and has another four years to be played out. Therefore, there will be numerous Wild Cards that will also be dealt and many of these will drive gold prices higher.
Gold Price Set To Surge Another $2,000+
To listen to Nomi Prins’s remarkable predictions for the price of gold, silver, mining stocks, uranium and much more CLICK HERE OR ON THE IMAGE BELOW.
JUST RELEASED! Gold Price Hits All-Time High
To listen to Alasdair Macleod discuss gold and silver breaking out and more surprises CLICK HERE OR ON THE IMAGE BELOW.
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