China Is Quietly Buying Up the World's Gold | Willem Middelkoop #gold #china #kitconews

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China’s gold demand is being framed as a structural, price-supportive force, with the article claiming monthly demand reached 150 tonnes — roughly 60% of global mine output outside China — while central bank buying is running close to 1,000 tonnes per year. Willem Middelkoop argues the People’s Bank of China is now on a 21-month buying streak, reinforcing the view that official-sector demand remains a major pillar under the market as gold trades above $4,300/oz. The key message is that gold is continuing to migrate from West to East, with China’s accumulation occurring quietly but at a scale large enough to matter for global balance. If these flows persist, they tighten available supply and help explain why the market may be underestimating the strategic bid from central banks and Asian demand. Near term, the bullish implication is clear: sustained PBoC buying and strong Chinese demand should remain supportive on dips, especially if broader macro conditions keep real yields contained. The main risk to that view would be a loss of official-sector buying momentum or a sharp retracement in Asian physical demand, but the 21-month streak suggests the flow narrative is still intact.