gold pricesChina's central bankCostcoThe article discusses the surging prices of gold and identifies the major buyers as China's central bank, large institutions, and private buyers, including unexpected purchases by Costco shoppers.
Gold prices hit a record of $2,364 an ounce on April 9th, attributed to its value as a hedge against calamity and economic uncertainty. Despite a recent rally not fully explained by inflation or geopolitical events, the article highlights increased gold reserves by China's central bank, speculative trading by big institutions, and significant retail purchases at Costco.