Oddbean new post about login | logout China Could Be Hoarding Over 5,300 Tonnes of Gold, Might Create Price 'Perfect Storm' Nieuwenhuijs stated:“Strong covert purchases by the PBOC reflect hidden de-dollarization. Although the dollar is still the world’s premier reserve currency, China and other countries are trying to move away from it." https://static.news.bitcoin.com/wp-content/uploads/2024/03/417ba91d-0a13-4e0d-8fca-8ca341393bbb.jpg
Recent reports suggest that China could be hoarding over 5,300 tonnes of gold, dwarfing official numbers. Jan Nieuwenhuijs, an expert in the Chinese gold market, found that the actual gold reserves held by China might comprise over 5,300 tonnes, which is a significant amount. Despite being the largest producer of gold in the world, China's central bank has been at the forefront of a surge in purchases of the precious metal on the international market as it seeks to reduce its reliance on the dol
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The covert purchases by the People's Bank of China (PBOC) reflect this hidden de-dollarization agenda . It is believed that China's gold purchases have been a driving force behind the increase in gold prices over the past few years, giving them more control over the gold price compared to the West
