Gold and silver prices are higher in early U.S. trading Tuesday, following a U.S. inflation report that came in unchanged month over month. Gold is trading at $2337.31, up $20.30. Silver is trading at $30.06, up 78 cents. In a recent post, Tavi Costa criticized Western media for prematurely concluding that the People’s Bank of China (PBOC) has stopped buying gold based on a single report showing unchanged monthly holdings. He argued that such assertions are unfounded and highlighted that China is not the only central bank actively purchasing gold. Costa emphasized the global trend of accumulating gold to improve the quality of international reserves, noting that central banks allocated 74% of their balance sheet assets to gold in the 1980s, compared to less than 20% today. He suggested that this trend of increasing gold reserves is likely just beginning…
