Looks like there’s a whale snapping up gold bullion below $1800

Bloomberg/Eddie van der Walt/2-2-2022

Ed Stein Cartoon of dragon atop gold hoard captioned Dragon's Hoard“Spot gold is again bobbing along near $1,800 an ounce, as it has been since mid-2020. The stickiness of that level, particularly as fundamentals turned more bearish, suggests there’s a big buyer somewhere in these waters.”

USAGOLD note: Let the speculation begin as to whom that whale might be …… After a process of elimination, van der Walt says that the buyer is probably a sovereign nation mentioning China as the likely source. We would not be surprised if that turned out to be true, but Russia also comes to mind given the current circumstances. Highly recommended read…….

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