"Gold Standard 2.0: China's About to Change the World Forever" - Andy Schectman
#andyschectman #gold #silver
In this insightful video, Andy Schectman debunks the mainstream media's narrative that China's gold purchases have halted due to high prices, signaling the end of the gold bull market. Schectman argues that this conclusion is premature and highlights the complexity of China's gold reserves and purchasing habits. Despite the reported pause, China remains a significant player in the global gold market, with substantial unreported reserves and production levels.
Schectman delves into the massive short positions held by commercial banks on the COMEX and explains how these have influenced recent price corrections. He emphasizes that the current market movement is a typical correction within a larger bull market, not an indication of its end. With gold trading above its 200-day moving average and significant global demand from countries like India, Saudi Arabia, and Turkey, the long-term outlook for gold remains strong.
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