Tiongkok PBOC driving Gold Rally Thru Printing $$$$, kym?

[k1976]

Russian bought $88m of gold from dealer in Changi to launder funds for Ukraine invasion​

The gold was sold by Singapore Precious Metals Exchange, which stores it at Le Freeport, a secured logistics hub in Changi North Crescent. PHOTO: ST FILE

David Sun
Crime Correspondent
UPDATED

APR 21, 2024, 09:03 AM

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SINGAPORE – A Russian man bought more than US$65 million (S$88 million) worth of gold bullion held in Singapore in a money laundering conspiracy meant to fund the Russian military’s invasion of Ukraine.

The gold was sold by the precious metals dealer Singapore Precious Metals Exchange (SGPMX), which stores the bullions at Le Freeport, a secured logistics hub in Changi North Crescent.

SGPMX is a privately run trading and storage company headquartered in Singapore. It allows its clients to trade in actual gold in an online global exchange, much like how shares are traded on the stock exchange.
Clients can physically check on their gold at the facility at any time.

Russian national Feliks Medvedev, 42, was charged in the United States on April 11, 2023, with one count of operating an unlicensed money transmitting business and 39 counts of money laundering.

On Feb 22, he pleaded guilty to the charges. He admitted to running an unlicensed money transmitting business in the US, and moving over US$150 million of illicit funds in more than 1,300 transactions.


Of this, more than US$65 million was used to buy the gold from SGPMX.

 

[k1976]

https://www.investing.com/news/comm...e-as-ratecut-expectations-suffer-blow-3387371

 

[k1976]

Gold's glittering run set for bumpy ride as rate-cut expectations suffer blow​

AuthorYasin Ebrahim
Published 04/19/2024, 05:14 PM

Updated 04/19/2024, 05:14 PM

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Gold's glittering run set for bumpy ride as rate-cut expectations suffer blow​

AuthorYasin Ebrahim
Published 04/19/2024, 05:14 PM

Updated 04/19/2024, 05:14 PM


View all comments (19)

Investing.com -- Gold has glittered its way to record highs on a diet of geopolitical tensions, a weaker dollar, sluggish real yields, but with rate cut expectations suffering a major blow, the yellow metal's run could soon be on borrowed time.
"We would not add gold exposure at current prices, and view it as vulnerable on a 6-12 month horizon as forward markets will further unwind Fed rate cut expectations and bond yields have more upside," Strategists at MRB Partners said in a Friday note.
Gold prices have been riding a perfect macroeconomic storm higher that started in October last year and picked up pace in mid-February against a backdrop of broadly flat real U.S. interest rates and a stable U.S. dollar, the strategists added.
But in recent weeks the dollar and the level of bond yields, particularly real yields, the two dominant cyclical drivers of gold, have been on the up and up, paving the way to a much bumpier path higher for the yellow metal.
The jump in yields followed a slew of hawkish remarks from Federal Reserve officials including from chairman Jerome Powell, who earlier this week signaled that the recent upside surprises to inflation have knocked the Fed's confidence to begin cutting rates.
Traders now see the Fed's first rate cut in September rather than June, with just two rate cuts priced in for this year, compared with the six or seven estimated previously, and fewer than the three cuts for 2024 that the Fed had projected at its March meeting.
Gold has, however, appreciated despite this backdrop of higher yields and a stronger dollar, but is
"now quite overbought," the strategists warned. The precious metal's resilience could likely be explained by ongoing momentum as well as a jump in demand for safe-haven assets following a step up in geopolitical tensions.

 

[k1976]

https://markets.businessinsider.com...rice-debt-inflation-us-economy-outlook-2024-4

Billionaire investor Ray Dalio says he's owning gold to hedge the risk of debt and inflation crises​

Jennifer Sor
Apr 20, 2024, 12:14 AM GMT+8
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• Ray Dalio says he owns gold partly to hedge against debt and inflation risks.
• The legendary hedge fund founder cast another warning on rising debt balances around the world.
• He's warned investors of a US debt crisis, which could push the economy into a balance sheet recession.

 

[k1976]

https://www.google.com.sg/amp/s/www...ond-and-could-hit-3000-says-citi-.html?espv=1

 

[k1976]

How S’pore investors can ride the gold wave as prices hit record highs​

The soaring value of gold in recent months certainly makes it an attractive part of any portfolio. PHOTO: ST FILE

Chor Khieng Yuit
Senior Business Correspondent
UPDATED

APR 17, 2024, 11:53 PM

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SINGAPORE – Gold has kept smashing price records in March and April as tensions in the Middle East unnerve investors who pile into safe haven assets for safety.
After hitting a record high of US$2,078.40 per ounce on Dec 28, 2023, the precious metal continued its strong run, marking a series of record highs in March and April, to hit US$2,401.50 an ounce on April 12.

https://www.straitstimes.com/busine...ride-the-gold-wave-as-prices-hit-record-highs

 

[k1976]

https://www.hodinkee.com/articles/hands-on-rolex-deepsea

320g Solid Gold Rilex for u, Boss John?

 

[k1976]

https://www.thenationalnews.com/business/money/2024/04/21/china-gold-india-price/
It is indicative of gold’s allure that Chinese demand remains so buoyant, despite record prices and a weaker yuan that robs buyers of purchasing power.

As a major importer, gold buyers in China often have to pay a premium over international prices. That jumped to $89 an ounce at the start of the month. The average over the past year is $35 versus a historical average of just $7.

For sure, sky-high prices are likely to temper some enthusiasm for bullion, but the market’s proving to be unusually resilient. Chinese consumers have typically snapped up gold when prices drop, which has helped establish a floor for the market during times of weakness. Not so this time, as China’s appetite is helping to prop up prices at much higher levels.

That suggests the rally is sustainable and gold buyers everywhere should be comforted by China’s booming demand, said Nikos Kavalis, managing director at consultancy Metals Focus Ltd.

China’s authorities, which can be quite hostile to market speculation, are less sanguine. State media have warned investors to be cautious in chasing the rally, while both the Shanghai Gold Exchange and Shanghai Futures Exchange have raised margin requirements on some contracts to snuff out excessive risk-taking. SHFE’s move followed a surge in daily trading volumes to a five-year high.

 

[k1976]

A less frenetic way to invest in gold is through exchange-traded funds. Money has flowed into gold ETFs in mainland China during almost every month since June, according to Bloomberg Intelligence. That compares with chunky outflows in gold funds in the rest of the world.

The influx of money has totalled $1.3 billion so far this year, compared with $4 billion in outflows from funds overseas. Restrictions on investing in China are again a factor here, given the fewer options for Chinese beyond domestic property and stocks.

Chinese demand could continue to rise as investors look to diversify their holdings with commodities, BI analyst Rebecca Sin said in a note.