Reuters/Rajendra Jadhav and Bharat Gautam/7-22-2022
“Physical gold demand picked up in some Asian hubs this week as softer prices drew buyers, allowing dealers in India to narrow discounts and driving up premiums in Singapore.”
USAGOLD note: Asia buys the dips for a very simple reason. It has a cultural affinity for the metal based on long experience dealing with economic uncertainty. It believes in gold as the ultimate long-term store of value, based upon long historical experience. So when the price comes down, it is an opportunity to add more wealth insurance at easier prices…… A good many Westerners view gold the say way. In fact, the bulk of our clientele holds a similar viewpoint.