The gold market’s great migration sends bullion rushing East

Bloomberg/Eddie Spence and Sing Yee Ong/10-9-2022

China bullion bar“There’s a global migration underway in the gold market, as western investors dump bullion while Asian buyers take advantage of a tumbling price to snap up cheap jewelry and bars.”

USAGOLD note: An update on an important gold market development we’ve been tracking closely over the past few weeks. The fact that the East is willing to pay the higher premiums reported in this article is in itself an interesting turn of events. Refineries report they are “trying to keep up with demand best they can.”

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