Happy Thursday, GoldBuzzers!

What a time to be a precious metals investor.

We've got a lot to cover today - the Fed just made its move, the dollar's in freefall, and gold and silver are doing exactly what we've been predicting.

Plus in today’s Real Talk, China just dropped $5.5 billion on a gold miner in a deal that tells you everything about where this market is heading.

Let's get right into it.

Gold gained another $228 on Wednesday, the largest single day increase in history.

Meanwhile, the Fed did exactly what I expected, holding rates steady at 3.50%-3.75% - and that was enough to send gold ripping past $5,400 and silver punching through $116, both hitting fresh all-time highs.

Two FOMC members actually dissented in favor of a cut, which tells you where this is heading. But the real story? President Trump essentially shrugged off the dollar's slide to four-year lows, signaling that a weaker greenback is just fine by him - and precious metals investors heard that loud and clear.

Gold is now up roughly 20% in a month; silver has absolutely exploded, up nearly 50%.

Meanwhile in China, a pure-play silver fund literally had to suspend trading after surging demand drove its premium way above net asset value and some manufacturers are pivoting from jewelry production to 1-kilogram investment bars - if that doesn't scream "supply crunch," nothing does.

The Fed held the line, the dollar's getting hammered, and the metals are doing exactly what they're supposed to do. Stay gold, friends. 🔥

The world’s biggest gold buyers just made their boldest move yet.

On Sunday, China's Zijin Gold International dropped a bombshell: a C$5.5 billion all-cash deal to acquire Toronto-listed mining company, Allied Gold Corp. That's a 27% premium to the 30-day average price - the kind of offer that makes shareholders weak in the knees.

But while investors celebrate, it's worth asking: what does it say about Canada when a once-proud resource nation keeps selling its mining crown jewels to foreign state-backed buyers?

The reason I’m featuring this story today is because it’s not just another mining deal. It's a signal flare for where the gold market is heading.

What They're Really Buying

Allied Gold isn't digging in Canada. Its crown jewels are pure African firepower: operations in Mali, Côte d'Ivoire, and Ethiopia's high-grade Kurmuk project (we're talking drill results of 58 meters at 21 g/t gold). Last year they produced 375,000 ounces, with plans to hit 600,000 by 2028.

For Zijin - a Hong Kong-listed behemoth worth over $70 billion - this is about securing raw ounces to feed China's strategic reserves. And they're willing to pay handsomely for it.

The Geopolitical Chess Match

This deal dropped just 10 days after Prime Minister Mark Carney's "ice-breaker" trip to Beijing, where he announced a new "strategic partnership" with China. For years, Ottawa blocked Chinese takeovers of critical miners under the Investment Canada Act. Now? This acquisition is the litmus test for whether that's actually changing.

Adding fuel to the fire: Zijin is partially state-owned and appears on the U.S. Uyghur Forced Labor Prevention Act watchlist. Social media is already asking the uncomfortable questions - will Canadian regulators actually greenlight this?

The April closing date gives us our answer soon enough.

China's Quiet Gold Accumulation

This acquisition is just the tip of the iceberg.

The People's Bank of China extended its buying streak to 14 months in December, pushing reserves to a record 2,306 tonnes - now 8.5% of total reserves. Official figures show +27 tonnes added in 2025.

But Goldman Sachs estimates the real haul - purchased through London's OTC market - could be 10x higher. We're talking closer to 270 tonnes.

Why the stealth approach? Diversification from U.S. Treasuries amid "dollar weaponization" fears, plus hedging against geopolitical risks. When you're preparing for a multipolar world, you want hard assets that can't be frozen with a sanctions order and you have to tread carefully.

The Shanghai Gold Exchange Factor

Meanwhile, the Shanghai Gold Exchange handled over 3,000 tonnes in 2025, increasingly challenging Western benchmarks like COMEX. A fresh agreement with Hong Kong cements its role as Asia's premier hub, with international firms now joining what was once a China-only game.

With premiums hitting $141/oz in China at times, the SGE's dominance signals Beijing's growing influence over global price discovery.

What This Means for Your Portfolio

For us gold bugs, this takeover is a wake-up call on several fronts:

Supply is tightening. Zijin's move secures African supply chains, potentially squeezing global output as mine growth stagnates at low single digits annually.

Central banks aren't slowing down. With 1,000+ tonnes of annual purchases and gold up almost 100% over the past year, analysts are eyeing $6,000 by mid-2026.

The gold wars are heating up. When state-backed Chinese miners are paying 27% premiums to lock up African production, you know that very serious people see something coming.

Whether you're holding physical, quality miners, or ETFs - this is confirmation that the structural bull case remains firmly intact.

China isn't just buying gold and silver. They're stockpiling it like their future depends on it.

That’s all for this Thursday, folks. I’ll see you all on Sunday.

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Rick Adams
Founder, GoldBuzz
rick@goldbuzz.com