Date Posted: November 3, 2023 Japan’s New Gold Era: The Yen’s Decline Sparks Unprecedented Demand For Safe Havens
The price of gold just had its best October in nearly half a century, defying tough resistance from surging Treasury yields and a strong U.S. dollar. The yellow metal rallied an incredible 7.3% last month to close at $1,983 an ounce, its strongest October since 1978, when it jumped 11.7%....
Why Central Banks Are Betting Big On Gold?
If you’re still on the fence, take a look at what the official sector has been up to. Central banks bought a collective 337 metric tons of gold in the third quarter, marking the second-largest third quarter on record, according to the latest report by the World Gold Council (WGC). Year-to-date, banks have added a remarkable 800 tons, which is 14% more than they added during the same nine months last year....
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