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2023 Gold Demand Peaks Amid Global Uncertainties
The Global Gold Council's 2023 report unveils the complex dynamics of gold demand. Louise Street, a senior analyst, predicts that ongoing conflicts, trade tensions, and numerous global elections will likely steer investors towards gold.
This year, gold demand, excluding the over-the-counter (OTC) market, fell slightly to 4,448 tons, down 5% from last year. Yet, when including OTC and other sources, demand hit a record high of 4,899 tons, pushing the average annual gold price to its peak for 2023.
Central bank purchases maintained a swift pace, reaching 1,037 tons, the second-highest ever, only 45 tons below last year's record.
Despite strong demand from OTC and central banks, ETFs saw a third year of net outflows, totaling 244 tons, mainly in Europe.
Bar and coin investments dropped by 3%, balancing out with varying market strengths. European demand notably decreased by 59%, while China saw a 28% increase to 280 tons. India, Turkey, and the United States also reported significant rises.
The jewelry sector remained robust despite high prices, with a slight annual increase. China, recovering from COVID-19 lockdowns, saw a 17% rise in demand, contrasting with a 9% fall in India.
Mining output was stable with a 1% growth, and recycling went up by 9%, leading to a 3% increase in overall supply, which was lower than anticipated considering the high gold prices.
Street highlighted central banks' steady demand as a crucial support for the gold market, compensating for other market areas' weakness. She pointed out that geopolitical uncertainties often boost gold demand. With the expected influence of conflicts, trade tensions, and elections in 2024, investors might turn to gold as a safe asset.
Street also noted that central banks frequently mention gold's crisis performance as a purchase rationale, implying that this sector's demand is likely to stay strong.
Source
🇺🇸 Black Lives Matter founder located in Illinois, Clyde McLemore has been exposed for brutally beating on his female employee who accused him of embezzling grants.
Follow us -> LiveLeak
American in Livonia, Michigan shows if you just put the gas pump down and don’t pump gas, it still slowly charges you for gas
I’ve seen similar videos to this all over America
Americans really are being robbed in every way possible
https://x.com/WallStreetApes/status/2028502600631664885?s=20
Trump's war on Iran is causing Gulf states to reassess their relationship with the U.S. and look to diversify their foreign partnerships:
"Many believe he dragged the Gulf into a war shaped heavily by Israel, without sharing a plan and acting hastily and without fully weighing the political and economic fallout for allies."
The U.S. is simply torching its diplomatic leverage for Israeli interests.
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AI as it is currently understood is not mere technology, but a system of total technological domination over the public. Just as institutions and people have already ceded too much of cyberspace to the cloud, we are in danger of offering even more of our lives and society on the altar of centralized computing. The ‘singularity’ was never to be an economic or technological boon, but rather the mere collapse of society under the weight of digital totalitarianism. Naked human dominance and tyranny was the face behind the techno-utopian mask. A generation was evicted from the ideal of home ownership by the combination of a variety of economic and social forces, it would seem that the same is taking place in cyberspace. ‘Hardware is the new homes’, as the public becomes priced out of securing a modest home server.
AI as it is currently understood is not mere technology, but a system of total technological domination over the public. Just as institutions and people have already ceded...
Iran War Hits Cyber, Food, Energy: Stryker Cyberattack, India Fertilizer Stoppage
Iran's escalating war is now striking on multiple fronts: massive cyber wiper attacks + real-world food and energy disruptions:
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Handala (Iran-linked)'s cyberattack on Stryker wiped data from 200,000 devices, halting operations. India's fertilizer production stopped due to LNG shortages, right before planting season.
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Fuel rationing hits West Australia (emergency-only sales) and Bangladesh, while Vietnam, South Korea, and Pakistan impose work-from-home, price caps, and austerity measures like 4-day work weeks.
This isn't hypothetical anymore—cyber pandemic warnings from IBM/WEF-linked reports are playing out alongside engineered shortages impacting global rice, wheat, cotton, and sugar supplies. The technocrats are engineering crises, managing perceptions as they cast blow after blow on supply chains. Start gardening now!
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