Gold Prices Surge as Eastern Demand Overwhelms Western Supply
Billionaire investor David Einhorn highlights a significant shift in gold markets, with Eastern nations aggressively purchasing gold, potentially leading to record highs.
- Gold prices have reached record levels in 2024, driven by strong demand from Eastern countries and central banks.
- David Einhorn attributes the surge to a secular trend of Eastern nations buying up Western gold, suggesting the West may be running out of gold to sell.
- China and India are major players in boosting their gold reserves, with China increasing its holdings by 16% over 17 months.
- Economists predict further increases in gold prices, with potential targets as high as $3,500, drawing comparisons to the inflationary patterns of the 1970s.
- Investors like Ray Dalio advocate for gold as a hedge against inflation and government debt risks.
Benzinga 
Markets Insider 