China is putting a floor under the gold price.

China's central bank gold purchases:

- March: +4.98t | Gold: $5.4k

- April: +8.09t | Gold: $4.6k

- May: +9.95t | Gold: $4.4k

- June: +14.93t | Gold: $4.2k

- July: +19.91t | Gold: $4.1k

- Aug: +20.22t | Gold: $4.3k

- Sep: +23.02t | Gold: $4.3k

The lower the gold price went, the more China bought.

September marked China's largest monthly purchase in 3 years and its 23rd consecutive month of official gold buying.

China is draining physical gold supplies from the global market as it builds a gold-backed financial system.

We don't own enough gold for what's coming.