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China’s Central Bank Buys 100 Tons Of Gold As Trade and Dollar Tensions With U.S. Escalate

 

◆ China has added more than 100 tons of gold bullion bars to its gold reserves since it resumed buying in December; China’s gold holdings rose to 62.64m ounces in September, an increase of 190,000 ounces in one month

◆ The People’s Bank of China (PBOC) increased it’s gold reserves for a 10th straight month in September, reinforcing its standing as one of the major official accumulators as many creditor nation central banks stock up on the precious metal

◆ China and central banks around the world need a hedge against their massive, near non yielding dollar holdings and central banks are trying to reduce their exposure to the dollar

◆ Investors globally need a hedge due to their massive dollar and negative interest rate bond and fiat currency exposure

Spot Gold Price USD

Spot Gold Price USD

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Focus On Gold’s Safe Haven Value, Not Gold $16,000 and Silver $700 Prices !

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Mark O'Byrne
I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
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