Hello to everyone reading this, I’m Pete Thomas, and today I’m bringing you a special report on my picks and insights into the current market dynamics. The Central Bank of China (PBoC) has reached its second-highest purchase levels of gold in the history of China. According to the 2023 report that was recently released, a country grappling with recession and a collapsed real estate market purchased 225 metric tons of gold. Special thanks to Tom King from The Asset for tracking this. In my dealings with multiple gold brokers in Dubai, they’ve suggested that this number might actually be an underestimate, potentially doubling the official figure. However, I must note that I cannot personally verify this claim.

With the geopolitical landscape as it currently stands, including Houthi Rebels attacking three ships — one British, one from Belize that sank, and a US Ship hit with a highly sophisticated missile and drone from Iran’s manufacturing — the stakes are high. Not to mention, Ukraine’s ongoing conflict with Russia, which is being funded by America and the EU, all these factors are contributing to gold prices staying buoyed above $2,000 USD per ounce when I initially wrote this post and is now trading $4,164.40 USD.