🔥"COMMODITIES RELATIVE TO M2 ARE AT HISTORIC LOWS"
Next time someone tells you gold and silver are finished for 20 years, ask them if they have any idea what M2 is right now, then show them this chart:
In essence, the SGE is inadvertently moving a big chunk of its physical gold forward contracts market to Hong Kong… (from onshore to offshore, at least for now, while the new HKPMCC gold hub launches).
This is actually a big deal.
In order to simplify procedures and encourage the import of gold, PBoC issued: the validity period of the gold I/E permit will be extended to 3 months, and the non batch one certificate validity period will be extended to 9 months, effective from June 1st.