China thought to be stockpiling Gold to cut greenback dependence – Nikkei
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
“Central banks are snapping up gold this year, but it is uncertain which ones are behind most of that shopping spree, fueling speculation that China is a big player,” reported Nikkei Asia.
The news quotes multiple analysts to also mention, “Seeing how Russia has been hit by monetary sanctions by the West, China and some other countries must be hurrying to reduce dependence on the dollar.”
The news should have favored the Gold price but the metal stays depressed at around $1,740 by the press time.
Also read: Gold Price Forecast: XAUUSD sees an establishment below $1,740 as DXY extends rally
[/s2If]
Join Our Telegram Group
