Opinion | How China became the world’s gold superpower - South China Morning Post
Opinion | How China became the world’s gold superpower - South China Morning Post
Source: South China Morning Post
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DW NOTE
China's central bank bought 225 tons of gold in May alone and holds 2,264 tons officially — a figure that understates reality, since Beijing routes purchases through commercial banks to avoid moving the market. When the Fed raised rates to 4% in September while printing $1.4 trillion deficits, gold was already answering the question of which central bank the world trusts more with its savings.