ExclusiveWHO IS BUYING GOLD AND WHY?

The global financial landscape is witnessing a profound structural shift as central banks, financial institutions, and retail investors simultaneously re-establish defensive positions through precious metals. Against the backdrop of an ever-expanding M2 money supply and escalating geopolitical risks, gold is no longer merely a portfolio diversification tool; it has emerged as the ultimate systemic hedge with zero counterparty risk. The divergence between capital flows into physical gold and paper gold instruments reveals the starkly different strategic calculations of various market participants.