Dedollarization

The precious metals market participants met yesterday (Monday) in London under the auspices of the World Gold Council (WGC) to discuss modernisation of the benchmark golf fixing mechanism, the London Gold Fix.

With such a large quantity of gold, it is evident that the Euro Area will play a major role in any reset of the international monetary system that will involve gold.

This anemic growth, this ever-delayed recovery and this QE tapering should normally be worrisome for the stock market, but things are staying put for now. How is that?

The size of the physical silver market is of $20 billion, whereas Bloomberg is mentioning $5 trillion.

Both Russia and China have decided to put gold at the center of their currency war against the “exorbitant privilege” of the US dollar.

Up another 300,000oz (9.3 tonnes) in the last month. Russia is a solid accumulator - same as China.

In this article, I will look at the importance of India in the gold market. In India, gold is religion. India's love affair with gold is timeless, spanning centuries even millennia.

Yesterday, the daily volume on the GDXJ Junior Miners Index beat all records, exceeding by 33% its highest historic value, and producing a 5.78% hike, five times the performance of gold!

We cannot understand today’s gold market without understanding the role China and, in a different way, India play in it. The gold market in general is very opaque and the Chinese one, in particular, is even more. In this article, I will look at China’s role in the gold market.

Chinese gold imports from Hong Kong for april. Net imports of 64.04 tonnes. Charts by Nick Laird