🚨 BREAKING: China 'OFFICIALLY' adds 5 tons of #gold in November.
SPOILER ALERT: They've been buying this whole time (eg. in Sept, below #thread) 🧵
This follows Trump's 100% tariff threat. Along with China's rare minerals export ban… this is all about sending a MESSAGE 👀 pic.twitter.com/pZyYX4WjDf
— Make Gold Great Again (@MakeGoldGreat) December 7, 2024
Read my latest update for paid subscribers—
China's Central Bank Resumes Gold Buying After Six-Month Pause
I'll add the link in the post below.$GLD $PHYS pic.twitter.com/OOP0NWxZQV
— Jesse Colombo (@TheBubbleBubble) December 7, 2024
The world knows 🇨🇳 has more #Gold than reported
There was report that 🇨🇳 has been buying gold secretly since May
Why did 🇨🇳 report it resume buying gold in Nov?
I can think of a few possibilities1. To signal to other BRICS members who agree to use local ccy for the settlement… https://t.co/UIAIImaMyo
— David Lee (@DavidLe76335983) December 7, 2024
China is stacking bigly again! https://t.co/0NqGfsm2cO pic.twitter.com/uHntF56V79
— GoldSilver HQ (@GoldSilverHQ) December 7, 2024
China’s central bank, the People’s Bank of China (PBOC), has resumed gold purchases, adding 5 tonnes to its reserves in November 2024. This marks the end of a six-month pause since its last buying streak ended in May. The latest addition brings China’s total gold reserves to 2,269.3 tonnes.
This move reflects China’s strategy to bolster its financial resilience amid ongoing economic challenges. With global economic uncertainties and rising geopolitical tensions, diversifying foreign exchange reserves through gold has become a crucial measure. Gold, often viewed as a safe-haven asset, helps safeguard against currency volatility and economic shocks.
The timing is notable as gold prices recently hit record highs in October 2024. These peaks were fueled by heightened global tensions and concerns about economic stability. China’s return to gold purchases aligns with efforts to stabilize its economy and instill confidence among investors.