A little something for Goldfinger 0

[Zebo]

@goldfinger1969 - a blurb that you might like:

Data from the World Gold Council shows that consumer demand for gold in China (in the form of jewellery, coins and bars) rose 16% in 2023, with gold jewellery demand up 12% and bar and coin demand up 27%.[1] Whilst this data is significant in and of itself, it’s the specific dynamics of that demand that may shine a light on what the future holds for gold demand in the world’s largest gold market.

This isn’t a here-today-gone-tomorrow fad. Gold appears to have been growing in popularity among younger Chinese consumers for some time now, but the recent economic context, combined with the Spring Festival ushering in the new Year of the Dragon, seems to have exacerbated the trend. An article published in the Chinese publication Sixth Toneclaims reports show that 59% of Gen Z said they were inclined to buy gold in 2021 (up from 16% in 2016), whilst sales of gold jewellery by e-commerce giants Tmall and Taobao are highest among people born after the 1990s.[4]

And it’s not just among young professionals that we’re seeing heavy gold buying in China. Data from the World Gold Council shows that the Chinese central bank added 225 tonnes of gold to their reserves last year, the heaviest buying spree since 1977. The People’s Bank of China now reportedly holds 2,235 tonnes of gold. This represents just over 4% of the People’s Bank of China’s total reserves.

[GoldFinger1969]

Great find, Zebo.  I have a bunch of posts/graphs detailing how gold is peaking in production/supply growth while demand like you cite is increasing.  I'm travelling so they'll have to wait but I will post them here or in a similar thread @ NGC.

Hundreds of millions of Asians will want gold, not Bitcoin.  Ditto Africans and others.

South Africa is producing 2/3rds less than she did in 1970.  CAPX is 1/2 what it was a decade ago.  The metal continues to move into STRONG hands, people who won't sell on a $250 rise but maybe a $1,000 rise. 

Edited March 13 by GoldFinger1969

[Henri Charriere]

@Zebo :  There is "a little something" in this for @VKurtB, too. But because it involves [Red] China, it's not good.  

[VKurtB]

On 3/13/2024 at 5:25 PM, Henri Charriere said:

@Zebo :  There is "a little something" in this for @VKurtB, too. But because it involves [Red] China, it's not good.  

Yeah, maybe the CCP needs gold for bullets when they invade Taiwan. Me? I’d prefer to collect broken fuselages from downed Communist Chinese planes. 

[Zebo]

On 3/14/2024 at 6:22 AM, VKurtB said:

Yeah, maybe the CCP needs gold for bullets when they invade Taiwan. Me? I’d prefer to collect broken fuselages from downed Communist Chinese planes. 

Your comment reminds me of the coins produced in the Polish Ghetto using metal from downed aircraft during World War II. 

[zadok]

On 3/14/2024 at 10:14 AM, Zebo said:

Your comment reminds me of the coins produced in the Polish Ghetto using metal from downed aircraft during World War II. 

...ditto tokens produced out of ww1 german tanks to support the war effort...n have owned a few tokens made from salvaged canons over the years...interesting adjunct to the hobby....

[VKurtB]

On 3/14/2024 at 9:42 AM, zadok said:

...ditto tokens produced out of ww1 german tanks to support the war effort...n have owned a few tokens made from salvaged canons over the years...interesting adjunct to the hobby....

Is that adjunct or “add junk”? As in road rash coins saved because “they’re different”.

[zadok]

On 3/14/2024 at 11:52 AM, VKurtB said:

Is that adjunct or “add junk”? As in road rash coins saved because “they’re different”.

...nah, just historical memorabilia closely associated with the hobby...that other stuff is hysterical non-memorable salvage....

[Zebo]

On 3/14/2024 at 11:52 AM, VKurtB said:

Is that adjunct or “add junk”? As in road rash coins saved because “they’re different”.

One man’s junk is another man’s treasure….  It’s all history baby! 👀

Edited March 14 by Zebo
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[Henri Charriere]

On 3/14/2024 at 10:14 AM, Zebo said:

Your comment reminds me of the coins produced in the Polish Ghetto using metal from downed aircraft during World War II. 

Too bad it's on that long list of coins NGC won't certify.