China's 13-Month Gold Buying Spree: Global Gold Emergency, India Faces Shockwave

• China's central bank has aggressively purchased gold for 13 consecutive months, adding 30,000 troy ounces in November and reaching 74.12 million troy ounces in total reserves.
• This continuous buying spree is a significant factor driving global gold prices towards a record year, with international spot gold trading above $4,000 per ounce.
• Expectations of US Federal Reserve interest rate cuts, following their December 9-10 meeting, are providing strong support for gold prices.
• Analysts foresee a long-term positive trend for gold, fueled by ongoing central bank purchases and the increasing likelihood of interest rate reductions.

Why It Matters: China's aggressive gold buying signals global market shifts and potential impact on India.