China Imports 173 Tonnes of Gold in June! - SilverTrade
China Imports 173 Tonnes of Gold in June! - SilverTrade
Source: SilverTrade
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DW NOTE
China imported 173 tonnes of gold in June — roughly 5% of global monthly mine supply, routing through Hong Kong as usual. Beijing has been accumulating since its reserves "officially" stopped growing in 2019; the PBOC now reports 2,264 tonnes, up from 1,948 two years ago, but no one believes that's the full position. When your Treasury holdings have been a diplomatic liability since 2022, gold isn't a hedge — it's infrastructure.