Gold's Phase Two: Official Sector Buying Out of Beijing Underpins Precious Metals Bid
Strong July purchases by China's official sector, combined with technical analysis pointing to the completion of the current advance's first leg, reinforce the structural case for bullion as a reserve-diversification and credibility hedge.
China Gold Market data showed robust official sector accumulation in July, while precious metals strategists argue the first phase of the cycle is completing ahead of a second, potentially more aggressive leg. The bid is being reinforced by currency credibility concerns, notably around a yen approaching the 160 threshold.
SPECIAL REPORTBULLISH