Gold Hits 2-Month High Above $4,400 as China Keeps Hoarding - Bitcoin News
Gold Hits 2-Month High Above $4,400 as China Keeps Hoarding - Bitcoin News
Source: Bitcoin News
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DW NOTE
China's central bank added 22 tonnes of gold in July — the eighth consecutive month of purchases — while gold sits 16.6% below its January peak of $5,318. That's not diversification, that's a vote of no confidence in dollar reserve assets. When a creditor nation shifts from financing your deficit to stockpiling the metal you can't print, the message is diplomatic but the implication isn't.