China buys the gold dip as ETF holdings hit record and holiday demand lifts Q4 outlook – WGC - Kitco
China buys the gold dip as ETF holdings hit record and holiday demand lifts Q4 outlook – WGC - Kitco
Source: Kitco
―
DW NOTE
China bought 40 tonnes from the central bank desk in Q4 while western ETF holders liquidated through the $1,100 drawdown from January's peak. The WGC frames this as smart value buying. It's capital flight wearing a gold coat — Beijing adding inflation hedges while the People's Bank burns $340 billion in forex reserves defending a currency that's lost 11% against the dollar this year.