PBOC Gold Purchases: Separating Facts from Speculation

BullionStar This post is part of the Chinese Gold Market essentials series. Click here to go to an overview of all Chinese Gold Market Essentials for a comprehensive understanding the largest physical gold market globally. In this post we will analyze everything there is to learn about PBOC gold purchases. Grasping the exact size of their official gold reserves is unfortunately impossible, assuming they have more than what is publicly disclosed (roughly 1,840 tonnes as of 2017), but there are many clues signalling they’ve covertly bought hundreds if not thousands of tonnes of gold since 2009. The purpose of this post is to get an overview […]

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Separating Signal From Noise In Markets

There’s not much information to get. The most important variables in global macro are the economic conditions and how central banks respond to those conditions. To get that information, I read the paper, look at the data, watch what the officials say, and try to read between the lines. From an actual trade point of view, it’s price action that determines when and where to put on a trade. Otherwise, there’s a huge amount of noise in the world. Other people’s opinions are irrelevant. I can’t bear talking to salespeople because all they want to do is tell you something […]

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