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MacroVoices #432 Jeff Currie: Metals, Energy, Commodity Super Cycle & More
Macro Voices
The Significance of Central Bank Demand in Gold Markets
Central bank demand, especially from emerging markets like China, has been a key driver of the recent gold rally despite traditional factors that would typically lower gold prices. The behavior of central banks in buying gold is not alarming as it follows a pattern where they increase purchases when prices decrease and reduce demand when prices rise. While a single data report showing a pause in gold purchases by the Chinese Central Bank may not seem significant, it has implications for the gold market considering its impact on gold prices amidst changes in real rates and dollar strength.
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