Gold Gains Prominence as Trustless Asset Amid Market Uncertainty
1 report, 1 independent
Updated Sun 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Scottsdale Mint CEO and owner Josh Phair stated that gold has become a trustless asset that attracts buyers during market uncertainty. Phair noted that sophisticated investors and businesses are increasingly holding gold on their balance sheets and lending against it. He also stated that China has been buying gold for 22 consecutive months.
From mining.com
Why it matters
Phair explained that central banks are increasing their gold allocations. Those with little holdings are looking at 1% to 3% allocation, while those already at 1% to 3% are targeting 5% to 7%. Phair noted that gold is increasingly being used as a treasury asset.
From mining.com
Who's involved
- PolandGeopolitical state whose gold reserve targets are noted in the report