China hoards gold

Herisau, 16.11.2023 (PresseBox) – The official figures do not reveal how much gold is really in Chinese hands.

The Chinese central bank now holds around 2,215 tons, having repeatedly increased its gold reserves over the past twelve months. However, the gold hoard could be significantly larger. Some even believe that the gold reserves are ten times larger than officially known. This is calculated as follows: China is the largest gold producer and importer in the world. And the country does not export any gold but has produced around 7,000 tons in the last 23 years. The quantity of gold imports can only be estimated. However, around 22,000 tons have found their way to China from the Shanghai Gold Exchange. This means that China’s central bank and citizens could have received around 30,000 tons, which would be twice as much as the first-placed country, the USA.

Investing in gold is not only a recommended option for central banks, but also for private investors. There is consensus that the price of gold will rise when the Fed starts to cut interest rates. And the signs are good. According to the CME FedWatch tool, the markets are predicting a first rate cut in May. Although Fed Chairman Jerome Powell warns that, if necessary, if inflation does not fall to the 2 percent target, the Fed will again take strict action. But according to the inflation data, things are looking good, as inflation has only risen by 3.2 percent in the past twelve months. In comparison, the US inflation rate was at a 40-year high of 9.1% in June 2022. If you want to follow in the footsteps of the Chinese and not just the Chinese, you can take a look at Tudor Gold or Revival Gold.

Revival Gold – is responsible for the exploration and development of the Beartrack-Arnett property in Idaho. Good drill results (up to 11.7 grams of gold per ton of rock) are available.

At Tudor Gold’s -Treaty Creek Project, located in the Golden Triangle in British Columbia, the drilling results are also always very pleasing.

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