China

China’s Historic Dump of $53 Billion US Treasuries Is Unprecedented Blow to US Economy

By offloading US treasuries and increasing its gold reserves, China aims to shield its economy from potential US economic sanctions and maintain financial stability. This historic move, the largest sell-off initiated by China, coincides with a broader trend of BRICS countries offloading US treasuries since 2022. This move is seen as an attempt to diversify […]

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Signs That a Global Gold Standard is Gaining Traction – Steve Forbes

“It’s hard to believe, but the world is beginning to lurch toward a gold-based monetary system,” Forbes wrote in an article published May 21. “This, despite the fact that the historical gold standard is held in almost universal contempt by economists and financial officials.” He said that despite the many myths and pervasive ignorance surrounding

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Could the Shift of Gold West to East Set the Stage for a New Gold-Backed Currency?

China takes up over two-thirds of all the annual production…That’s where the gold price is set. During the first two months of 2024, China imported 367 metric tons of gold for non-monetary use. That was a 51 percent increase from the same period in 2023. Gold jewelry, coins, and bullion sales in China rose 24

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Gold Price Hits New Record Highs as the West Loses Price-Setting Powers

Canadian mining legends Frank Giustra, CEO of Fiore Group, and Pierre Lassonde, Chairman Emeritus at Franco-Nevada, say the West has lost its power to set the price of gold. “The marginal buyer of gold is no longer the U.S. It’s no longer Europe. It’s China. Between the country’s central bank and the Chinese public, China

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Central Banks’ Strategic Shift Towards Gold in an Uncertain Economy – Joe Cavatoni

In an era where the global economy navigates through turbulence and uncertainty, gold’s allure seems to shine brighter than ever. Joe Cavatoni, Senior Market Strategist at the World Gold Council. “Gold as a pure investment is actually starting to get more interest and more momentum onshore… we had a 28% increase in annual demand, which

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Central Banks Are Turning To Gold As They Lose Faith In Bonds – ANZ

In the last two years central bank gold purchases as its share in global demand has tripled, representing between 25% and 30% noted by Commodity analysts at ANZ. “[Emerging market] central banks could purchase over 600 tonnes of gold annually until 2030, to take its share in their foreign reserves to 10%. China will likely

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China Extends Run of Gold Buying That’s Helped Support Prices

China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices. Stockpiles of gold reported by the People’s Bank of China rose by about 740,000 troy ounces in October, according to official data released Tuesday. That’s equivalent

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China Sells the Most US Assets in 4 Years, Dumping $21 Billion of US Stock and Treasury Bonds

Chinese investors sold $21.2 billion in US equities and Treasuries, the US Treasury said Wednesday. Chinese investors sold an all-time record $5.1 billion of US stocks that month. The onshore yuan had weakened against the dollar to its lowest point since November in August. Chinese investors offloaded $21.2 billion of US assets in the month

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GOP Takes on Federal Reserve in Battle Over Digital Dollar

House Majority Whip Tom Emmer, R-Minn., on Tuesday afternoon will reintroduce the Central Bank Digital Currency Anti-Surveillance State Act. a Republican-backed bill that aims to prevent the Federal Reserve and its member banks from issuing a digital version of the dollar and using it to implement monetary policy. 130 countries, representing 98% of the global

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