Who is the ‘massive player with deep pockets’ behind gold’s surge?

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Whoever it is – or they are – seems insensitive to cost. Central banks do not behave like this. “They buy on the London benchmark, and they don’t chase the price,” says Norman. It has been clear for three years that Russia, China and Iran are operating in collusion, each feeding opportunistically on each other. AP This rally is happening off books in the OTC market. Yes, China’s central bank has been adding to its declared gold reserves for 17 consecutive months, part of the gradual portfolio shift away from US Treasuries and European bonds by the Global South. Dollar...