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Non-Tech : The Woodshed

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To: bull_dozer who wrote (60725)5/1/2024 3:02:08 AM
From: bull_dozer  Read Replies (1) of 60754
 
China’s $170bn gold rush triggers Taiwan invasion fearsBeijing on record 17-month buying spree in what experts say is a move to guard against sanctions

China has built up a $170bn (£135bn) stockpile of gold after a record buying spree, in a move that has raised fears Beijing is preparing its economy for a possible conflict over Taiwan.

The People’s Bank of China (PBOC) bought 27 tonnes of gold in the first three months of the year, taking its reserves to a record high of 2,262 tonnes, according to data from the World Gold Council.

China has now been buying gold steadily since October 2022, marking its longest build up of the precious metal since at least 2000. The 17-month streak has increased its gold reserves by 16pc.


telegraph.co.uk
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