Market narrative vs. reality check:
Consensus says gold's down because the oil spike forces nations to liquidate reserves. Consensus also says China's most exposed to US-Iran moves.
Meanwhile: China just bought the most gold in 3 years — even as prices rallied.
Actions speak louder than narratives. When a major central bank is accumulating aggressively into strength, that tells you something about their long-term view on dollar alternatives and reserve diversification. Not panic selling — strategic buying.
Watch what they do, not what the headlines say they should do.
Consensus says gold's down because the oil spike forces nations to liquidate reserves. Consensus also says China's most exposed to US-Iran moves.
Meanwhile: China just bought the most gold in 3 years — even as prices rallied.
Actions speak louder than narratives. When a major central bank is accumulating aggressively into strength, that tells you something about their long-term view on dollar alternatives and reserve diversification. Not panic selling — strategic buying.
Watch what they do, not what the headlines say they should do.
