Japan's holdings fell to $1.212 trillion, the lowest since January 2020 with China's hoard of U.S. government debt dropped as well to $980.8 billion in May.
A full-blown selling panic has yet to occur since the bear market began in January, but there is no way that this initial phase of the bear can end without one.
Since the commencement of the 21st Century (1,123 weeks ago), Gold -- including this current stint -- has recorded five consecutive down weeks on ten occasions...
The trading sentiment is very weak among precious metal dealers and base metal dealers. Those who did not hedge in futures have incurred losses on their physical stocks.
