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![msectors Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1004433661603835904.png) MicroSectors [@msectors](/creator/twitter/msectors) on x 9622 followers
Created: 2024-12-11 14:29:53 UTC

‼️WEEKLY GOLD UPDATE‼️

📈CHINA'S GOLD DEMAND DRIVEN BY INVESTORS IN 2024
China's gold demand reached 741t YTD, down XX% y/y but above the five-year average of 718t, fueled by a record 30t ETF surge through Q3 and a 21t spike in October. Technology demand remained stable at 53t amid the AI boom, while the PBoC ended its 18-month buying streak in May after adding 29t. (World Gold Council)

🌎OUTCRY IN EL SALVADOR OVER GOLD MINING BAN REVERSAL
President Nayib Bukele seeks to revive El Salvador’s economy by lifting a seven-year ban on metal mining, citing claims of vast gold deposits worth $XXX billion. Critics highlight environmental and health risks that led to the 2017 ban, reflecting broader regional resistance to mining.

⛏️CHINA UNCOVERS WORLD'S LARGEST GOLD DEPOSIT
A 1,000-metric-ton gold deposit valued at $XX billion was discovered in Hunan Province, surpassing South Africa’s South Deep Mine reserves. The high-grade find, with ore containing up to XXX grams of gold per ton, reinforces China's leadership in gold production, which already accounts for XX% of global output.


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1866852913668050976/c:line.svg)

**Related Topics**
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[surge](/topic/surge)
[fund manager](/topic/fund-manager)

[Post Link](https://x.com/msectors/status/1866852913668050976)