Mike Maloney and Jeff Clark outline the shift occurring in the gold market today. You’ll see which countries are buying up gold hand over fist and why rich countries including the U.S. could be much poorer shortly.
China Corners Gold Market as Peak Production Looms
Maloney highlights the cumulative imports from the Hong Kong Exchange into China. Also, the soaring monthly withdrawals of gold from the Shanghai Gold Exchange are reviewed.
Finally, Maloney explains that, since 2013, on average, global gold demand from India, China, Turkey, and Russia exceeds all global production of gold. The difference is made up by gold flowing from West to East.
These circumstances lend itself to the Peak Gold Theory which we’ve written about many times at Pinnacle.