Happy Sunday, GoldBuzzers!

Grab your coffee and settle in, because the metals markets just went absolutely ballistic. We're talking silver hitting all-time highs, gold ripping toward $4,220, and a seismic shift in global finance that the mainstream media is completely ignoring.

In today’s Deep Dive, you’ll discover why central banks just dumped U.S. Treasuries for gold in a way we haven't seen since 1996 (spoiler: it's bigger than you think), plus all the wild treasure finds and market moves from a week that left traders dizzy.

Ok, let’s dive in!

Holy smokes - what a week! Gold blasted close to $4,220 per ounce on Friday, hitting a one-month high and locking in its fourth straight monthly gain. Silver? It absolutely erupted (+13% on the week), soaring to a record $56.45 as supply fears and Fed cut hopes sent traders into a frenzy.

The metals are partying like it's 1979 (literally - gold's on track for its best annual performance since then). The Fed drama is getting spicier by the day: New York Fed President John Williams dropped major hints Friday, saying he sees room for "further adjustment" to rates, instantly flipping December cut odds from 30% back above 70%.

Meanwhile, Kevin Hassett has reportedly emerged as the front-runner to replace Jerome Powell, and this guy's already said he'd be cutting rates right now if he were running the show. Chinese silver inventories have dropped to their lowest level in a decade following heavy shipments to London, creating a perfect storm of supply squeeze meets Fed pivot.

I’d love to see a healthy pullback this week to shake out the weak hands and reload for the next leg up - but let's be real, with central banks still hoovering up gold like there's no tomorrow and ETF inflows staying strong, any dip is probably getting bought faster than you can say 'Jerome Powell.' Both metals are coiled springs ready for what could be an absolutely explosive December.

Buckle up, GoldBuzzers - this ride's just getting started! 🚀

The World's Quiet Divorce From the Dollar

Something historic has happened, and once again the mainstream media is virtually silent.

For the first time since 1996, central banks worldwide now hold more gold than U.S. Treasury securities. Gold holdings have climbed to approximately $4.5 trillion while Treasury holdings have fallen to around $3.5 trillion.

This isn't a blip. It's a structural shift decades in the making - and it's accelerating.

Let's start with what just changed in China - because this is where the dollar's monopoly started cracking.

In 2023/24, China crossed a threshold: 52.9% of its cross-border settlements were conducted in yuan, compared to just 42.8% in dollars. That's the first time the renminbi has dominated China's own trade settlement - ever. The figures have increased further since then.

But here's the part that should really get your attention: this isn't happening through SWIFT.

China's Cross-Border Interbank Payment System (CIPS) processed 8.2 million transactions worth $24.5 trillion in 2024 - up 24% in volume and 43% in value from the previous year. The system now connects to banking institutions in 189 countries, with 187 direct participants and over 1,550 indirect participants across 122 countries and regions.

That's not just a pilot program - you have to look at it as a parallel financial system.

The connection between de-dollarization and gold buying, is now showing up in the data.

Central banks bought 3,220 tonnes of gold between 2022 and 2024 - the largest three-year accumulation period in modern history. In 2022 alone, they added 1,082 tonnes. In 2023, another 1,037 tonnes. And 2024 saw 1,044 tonnes added to reserves.

The 2025 World Gold Council survey of central banks found that 95% expect global gold reserves to increase over the next year - up from 81% in 2024. A record 43% plan to increase their own holdings.

When asked about the next five years, 76% believe gold will represent a larger share of total reserves.

That’s very clearly institutional positioning, not mere speculation.

Meanwhile, China's Treasury holdings have dropped to $700.5 billion - down 47% from their peak of $1.32 trillion in November 2013. That's the lowest level since 2008-2009.

And China isn't alone. The broader trend of foreign central banks reducing dollar exposure is global.

Russia-China bilateral trade now settles over 99% in local currencies - rubles and yuan - completely bypassing the dollar. Their bilateral trade reached $244.8 billion in 2024.

I want to be clear: the dollar isn't collapsing. It's still the world's dominant reserve currency. But it's no longer the only option - and that distinction matters.

For 80 years, the dollar has enjoyed what economists call "exorbitant privilege" - the ability to run massive deficits because the world needed dollars for trade. That privilege is eroding, slowly but measurably.

Gold is the direct beneficiary. When central banks diversify away from Treasuries, gold is where much of that capital flows. The metal has no counterparty risk, can't be frozen or sanctioned, and has maintained purchasing power across millennia.

With gold now trading above $4,200 - having breached $4,000 for the first time in October 2025 - the market is starting to price in this structural shift. But if the current trajectory holds, we're likely still early.

We're witnessing the early stages of the most significant shift in global monetary architecture since Nixon closed the gold window in 1971.

It won't happen overnight. The dollar's network effects are enormous, and inertia is powerful. But the direction is clear: a multipolar currency world where gold plays an increasingly central role as a neutral reserve asset.

Central banks are voting with their vaults. The question is whether you're paying attention.

A few recent stories you might have missed.

Colombian archaeologists just pulled the first treasure from the "Holy Grail" shipwreck after 300 years underwater - we're talking about a Spanish galleon with $20 billion worth of gold coins sitting on the ocean floor. Fox News

A French dude digging a swimming pool in his backyard hit the jackpot with $800K worth of gold bars and coins - and the best part? Authorities let him keep it all since it wasn't stolen. Popular Mechanics

Silver just went full beast mode, smashing through $55 per ounce for the first time ever as traders bet on December Fed rate cuts with 89% probability. CNBC

Some analysts are calling for silver to double to $100 once it decisively breaks the psychological $50 barrier - and with it already up 84% year-over-year, they might be onto something. FinanceMagnates

Goldman Sachs estimates central banks bought 64 tonnes of gold in November alone, continuing their multi-year shopping spree to hedge against geopolitical chaos. Investing.com

China just announced their largest gold discovery in over 70 years - a massive 1,444-tonne deposit worth $192 billion that could shake up global markets. Euronews

That’s all for this Sunday, folks! Enjoy the rest of your weekend and I’ll see you on Tuesday.

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Rick Adams
Founder, GoldBuzz
rick@goldbuzz.com