Someone is buying a large amount of physical gold:
So, who is buying it all, and why?
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Who is selling all this gold? Remember, Nixon closed the gold window in the U.S. because foreigners were buying so much gold.
Wendy
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Google Gemini says China:
AI Overview
+7
Yes, Chinese investors and institutions, including the People’s Bank of China (PBoC), are actively buying gold. This trend has been ongoing for several years and has recently been amplified. The PBoC has been reported to have added to its gold reserves for multiple consecutive months.
Here’s a more detailed look:
Central Bank Purchases:
The PBoC has been expanding its gold reserves, with recent reports indicating a 6-month streak of purchases, according to Yahoo Finance.
Private Investor Demand:
Beyond the central bank, Chinese consumers and investors are also increasingly seeking out gold as a safe-haven asset, according to the World Gold Council.
Strategic Diversification:
China’s gold-buying spree is partly driven by a strategic move to diversify its reserve assets and reduce its reliance on the US dollar, according to Newsweek.
Factors Influencing Demand:
Geopolitical uncertainties, trade tensions, and economic concerns have also contributed to the increased demand for gold.
Impact on Gold Prices:
China’s gold purchases, along with other factors like wars and geopolitical tensions, have contributed to rising gold prices, according to DW.
YT videos provide support that China n Chinese are buying gold. I’ve seen multiple videos over the last couple years reporting that China govt is buying gold.
Gemini AI does NOT suggest Japan or India are increasing their gold buying.
Grok 3 reported similar to Gemini.
I found this comment interesting:
{ Limitations of the Data
While the evidence clearly shows that China is buying gold, there are some caveats:
Lack of Specifics: The sources do not provide detailed figures on the total volume of gold purchased beyond the examples mentioned, nor do they fully explain the long-term implications.
Time Sensitivity:
The information is current as of May 2025, and more recent developments might not be reflected here.In summary, based on the available data, China is indeed actively buying gold and has been doing so consistently for at least six months as of May 2025. This activity underscores its ongoing efforts to increase its gold reserves, likely as a safeguard against economic uncertainties. }
FWIW
ralph
IMO, AI LLMs do “book reports”.
The info above is essentially a book report.
I did not fact check the AI info, but it matches info from other sources.
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I posted about this sometime back. Lot of this gold is actually moving into US, not necessarily new purchases. They are moving away from London and other exchanges into US.
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Gold did indeed move into the USA. However it is now moving out of Comex as someone seems to be taking physical delivery.
Someone with mega purchasing power is buying and taking delivery. They are taking “home” thousands of bars worth over $300’000 each. This not mom and pop prepping with guns, grub, and gold. This is someone who “knows”. They don’t care about the price becuase they won’t lose. It’ll help them to get to the other side when the reset comes.
Whoever it is they are not disclosing who they nor their motive.
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Re: Physical delivery.
I don’t know how commodity markets, specifically their futures markets, work exactly. But I assume that futures are traded each period between folks who have the commodity, and folks who do not, and speculators, and etc. And at the end, a holder of a future either closes the position before expiry, or has to deliver or take delivery of the item upon expiry. I expect that the vast majority of the trading positions get closed before expiry and delivery. Only some end up actually getting delivered. This is obviously true because the total notional value of commodities being traded are far higher that the total actual value delivered each period.
I wonder if it is possible if gold producers, at the current high prices, are “cashing in” by allowing more of the futures they sell to actually reach expiry and delivery rather than closing the position before delivery? Maybe because producing an ounce of gold costs MUCH less than $3000, they feel that a price of $3000+ is goos price at which to sell. So they are willing to sell more at current prices than they were at lower prices in previous years.
In other words, they are willing to produce (mine) more at these prices of $3000+ than they would at $2000+. More gold means more deliveries.
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I doubt that. Often what really happens is moving from one aile to another within the Comex, where the physical gold is now owned by the customer instead of the dealers. The gold like treasuries are used as collateral in derivatives on them, and often you have 10x+ derivatives, i.e., 1 lb gold may have 10 lb+ derivates trade on them. Because most people will settle the trade for cash and not take physical delivery.
Someone with a deep pocket may take delivery, so that they are reducing the “inventory” available at dealers thus create “demand” at the dealer side and drive prices.
Few years back $JPM (JP Morgan commodity trading division) took large quantity of physical delivery of Silver, to drive the silver price. Did $JPM move the silver to their vaults? No. they just move it from one aile to another. They don’t leave comex.
How your holding is maintained in the ledger changes from derivatives to physical. Sometimes they “lend” their physical to make more on the borrow, especially if the “borrow” is higher than the “interest rates”.
Separately, $JPM ( which I suspect is involved in manipulating here), may take delivery in COMEX and deliver it in NYMEX.
WHY are Passenger-Jets Full of GOLD Crossing the Atlantic?!
Did you know that every time you take a flight, there is potentially millions in Gold sitting quietly right beneath your feet? Everyday aircrafts quietly carry fortunes across the globe, but not on cargo planes. Passenger jets, the very same jets we all fly on are used. But, why? And how secure is it… what happens if something goes wrong?
The Captain
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My eyes glazed over as soon as he started explaining what gold is.
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