Peter's Blog

Chinese Gold Demand Charts Healthy Increase Through First Half of 2023

After hitting the highest level since 2019 in the first quarter, Chinese gold demand continued on a solid path through Q2. Through the first half of the year, Chinese gold consumption surged by 16%, according to the latest data from the China Gold Association (CGA).

Chinese and Mexican Mines Are Running Out of Silver

Silver demand set a record in every category in 2022 and is expected to continue growing. Meanwhile, silver production flatlined. Record global silver demand and a lack of supply upside contributed to a 237.7 million ounce market deficit in 2022. The trends indicate that this deficit will expand in the next several years as demand continues […]

Gold’s Steady Migration from West to East

There has been a steady migration of gold from West to East over the last three decades. When the World Gold Council published its first Gold Demand Trends report 30 years ago, Asian demand made up 45% of the world’s total. Today, the Asian share of global gold demand is approaching 60%.

Q1 Gold Demand in China Hit Highest Level Since 2019

After ending 2022 on an upward trend, China’s gold market continued to rebound during the first quarter of 2023. Wholesale gold demand in China during Q1 hit the highest first-quarter level since 2019. Meanwhile, gold imports charted the strongest start to a year since 2015.

China-Brazil Trade Deal Ditches the Dollar

More bad news for the dollar. Last week, China and Brazil announced a trade deal in their own currencies, completely bypassing the dollar. This represents another small shift away from dollar dominance.

Chinese Gold Demand Continued to Surge in February

After ending 2022 on an upward trend that continued into January, Chinese gold demand surged again in February as the economy continues to rebound from government-imposed COVID policies. Gold withdrawals from the Shanghai Gold Exchange (SGE) totaled 169 tons in February. This is a reflection of strong wholesale demand and signals an ongoing rebound in […]

Chinese Gold Imports Hit Highest Level Since 2018

China imported 1,343 tons of gold in 2022, the highest import level since 2018. Total gold imports for the year were up 64% over 2021. China ranks as the world’s biggest gold consumer.

Why Are Central Banks Buying Gold?

As we’ve reported central banks globally have been piling in gold. The question is why?

China Likely Stockpiling Gold to Minimize Dollar Dependence

China is likely quietly stockpiling gold in a bid to further minimize its dependence on the US dollar.

Gold Migrating from West to East

Gold is migrating from the West to the East. As Bloomberg described it, many western investors – particularly at the institutional level – are dumping bullion. Meanwhile, Asian buyers are taking advantage of lower prices to snap up less expensive jewelry, coins, and bars.