China’s gold chase to gain pace in an uncertain world - S&P Global
China’s gold chase to gain pace in an uncertain world - S&P Global
Source: S&P Global
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DW NOTE
S&P projects accelerating Chinese gold purchases in a world where the Strait of Hormuz has been blockaded for 133 days, Russia is shelling Kyiv, and Israel has broken its Gaza ceasefire. Gold is down 11.8% from January highs despite these conditions. Either the market believes the disruptions are priced in, or it hasn't understood what happens when a major importer front-runs a closure in supply.