{"id":68113,"date":"2024-05-17T09:09:00","date_gmt":"2024-05-17T14:09:00","guid":{"rendered":"https:\/\/olduvai.ca\/?p=68113"},"modified":"2024-05-17T09:09:00","modified_gmt":"2024-05-17T14:09:00","slug":"why-gold-is-flowing-from-west-to-east","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=68113","title":{"rendered":"Why Gold Is Flowing From West To East"},"content":{"rendered":"<h3><a href=\"https:\/\/www.goldcore.com\/blog\/why-gold-is-flowing-from-westto-east\">Why Gold Is Flowing From West To East<\/a><\/h3>\n<div class=\"gc-Blog-PostDetailsBlock-Info\"><\/div>\n<div class=\"gc-Blog-PostDetailsBlock-Content\">\n<div class=\"gc-News-article-text gc-ArticleContent\">\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Why GOLD Is FLOWING From WEST To EAST (2024)\" src=\"https:\/\/www.youtube.com\/embed\/t7n4-v3NZjU?feature=oembed\" width=\"500\" height=\"281\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p>Yesterday silver hit a four-week high and gold continues to hold onto recent gains. Today\u2019s labour market data isn\u2019t sparking significant movement in the gold market. However, it is facing some technical selling pressure as it tests resistance levels slightly below $2,400 per ounce. Yesterday\u2019s \u00a0US CPI report presented a scenario that is bullish for precious metals investors. With CPI data coming in lower than expected policy doves will now be pushing for the FOMC to cut rates sooner, rather than later.<\/p>\n<p>For gold and silver investors in the West, the uncertainty regarding the FOMC\u2019s next moves is dampening prices somewhat, but they do remain in a solid uptrend. We continue to see a divergence between gold demand drivers between the East and West. In the West central bank decisions and economic data remain at the forefront of buyers\u2019 minds, but in the East this is now a secondary factor. Instead central banks, institutions and consumer East of Germany are focused on gold accumulation, even buying into the price surge last month.<\/p>\n<p>The release of the World Gold Council\u2019s Q1 demand trends report has confirmed this. Data for the first quarter of this year showed the PBoC\u2019s gold purchases continued for a 17th month in a row, whilst gold bar and coin demand was also driven by China.<\/p>\n<p>So where does this leave the West? In today\u2019s video Jan Skoyles wonders if it leaves them with \u2018no plan B\u2019. Do you agree? We\u2019ve been chatting to a few clients recently and it has been interesting to hear thoughts on future gold market trends and what is driving people to increase their gold allocation. Let us know yours, either by replying to this email or in the comments below the video.<\/p>\n<p>Why is China buying up so much gold and what does it mean for the gold price? We take a look in this week\u2019s\u00a0<a href=\"https:\/\/youtu.be\/t7n4-v3NZjU\" target=\"_blank\" rel=\"noreferrer noopener\">latest video<\/a>.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Why Gold Is Flowing From West To East Yesterday silver hit a four-week high and gold continues to hold onto recent gains. Today\u2019s labour market data isn\u2019t sparking significant movement in the gold market. However, it is facing some technical selling pressure as it tests resistance levels slightly below $2,400 per ounce. Yesterday\u2019s \u00a0US CPI [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[130,34568,10262,374,8689,647,965],"class_list":["post-68113","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-china","tag-dave-russell","tag-east","tag-gold","tag-goldcore-com","tag-precious-metals","tag-west"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68113"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68113\/revisions"}],"predecessor-version":[{"id":68114,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68113\/revisions\/68114"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}