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central banks bring national gold home
Published in: Gold
In times of trade war and the new Cold War daughter of sanctions and Russiagate, it is not surprising that China and Russia have already taken the road of the so-called de-dollarization of their economies. Especially since Beijing has made the gradual disengagement of the green ticket coincide with the launch of the so-called "New Silk Road", an infrastructure mega-project that has also favored the stipulation of bilateral contracts in yuan and local currencies, bypassing the global currency benchmark. In short, a natural consequence of geopolitical choices, before being merely economic. Which brought with it a diversification dynamic that saw gold as the main protagonist, even before the expectations of recession turned it back into a world-class safe haven.
These graphs put the situation in perspective, showing us on one hand how China in September bought 5.9 tons of physical metal, bringing the total increase of its reserves in the last nine months to 100 tons ... following
These graphs put the situation in perspective, showing us on one hand how China in September bought 5.9 tons of physical metal, bringing the total increase of its reserves in the last nine months to 100 tons ... following