One development from China really caught my attention.
Chinese banks are gradually expanding their gold deposit accounts, allowing customers to earn interest paid in gold. This doesn’t mean gold suddenly generates a yield everywhere, but it does show that China continues to strengthen gold’s role within its financial system.
To me, this is another long-term bullish signal for precious metals. China isn’t making it easier for people to own gold by accident.
At a time of rising debt and growing uncertainty, I believe gold’s importance will only continue to increase.
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