China is purchasing large quantities of precious metals.

In this monthly letter, we have focused extra on silver and China.

Key insights from our monthly letter | Elements, June 2024

• The strong silver price has given silver mining companies real upward momentum since March, as we have seen in AuAg Silver Bullets' returns.
• More and more countries are gradually trying to reduce their dependence on the US dollar, and therefore, many central banks worldwide, led by China, are increasing their gold reserves.
• Some history from the 16th century: Paper money was printed in China, which resulted in the country being unable to resist printing too much to finance its deficits and consequently having to switch back to silver as currency.

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