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Jan Nieuwenhuijs: Thailand joins China in driving gold bull market
By Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Monday, June 17, 2024
Shedding its long-standing price sensitivity to the price of gold, Thailand is a gold buyer driving the price up, just like China.
Present changes in the global gold market, in which pricing power is shifting East, could be a precursor to a transformation in the international monetary order. Possibly, trade in the East will settle through a system connecting local central bank digital currencies, while any remaining imbalances are transferred in gold.
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Until 2021 many countries in Asia were gold price sensitive for nearly a century. They bought when the gold price was steady or declining but swiftly turned into sellers when the price increased. During this period the price of gold was set in the West and the East dampened volatility, best demonstrated in my article "The West–East Ebb and Flood of Gold Revisited."
After the war in Ukraine broke out in 2022 things started changing in the global gold market. ...
... For the remainder of the analysis:
https://www.gainesvillecoins.com/blog/thailand-joins-china-driving-gold-bull-market
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