The story of China and its obsession with gold is well documented as monthly data shows the phenomenal volumes imported through Hong Kong and traded on the Shanghai Gold Exchange. However, given how much commentators report on China’s interest in gold, it’s surprising that very few realize that in 12 months, the country lost thousands ...
Curtin University research has found tiny amounts of gold can be trapped inside pyrite, commonly known as “fool’s gold,” which would make it much more valuable than its name suggests. This study, published in the journal Geology in collaboration with the University of Western Australia and the China University of Geoscience, provides an in-depth analysis to better ...
The massive sell-off in gold has crashed the price of the yellow metal. And given the economic uncertainty triggered by the CCP coronavirus outbreak, some investors believe that buying the precious metal at the present low prices would be an excellent investment. However, remaining cautious might be a much wiser decision. A buying opportunity? Earlier ...
Russia and China are furiously building up their gold reserves. Russia has bought 106 tons of gold this year and the People’s Bank of China has similarly accumulated about 100 tons. Russia’s gold reserves currently stand at about 2,200 tons, while Chinese reserves are pegged at 1,950. De-dollarization through building up gold reserves According to ...
For China, African countries are storehouses of resources that need to be extracted to meet the demands of the growing Chinese population. In Sierra Leone, a Chinese company established gold mining operations in the town of Masumbiri, with locals hoping that it would usher prosperity into the region. However, not only are their dreams left ...
In a bid to reduce dependence on the U.S. dollar as a trade currency and reserve, Russia and China have been buying up gold furiously over the past several months. Both nations have also proposed bilateral trade in their respective currencies. Burgeoning gold reserves According to the World Gold Council, the Russian central bank bought ...
As concerns about the state of the global economy increase, people often seek investment ways that will help them ride out any possible financial collapse. At present, the U.S.-China trade conflict and the increasing polarization in world politics present several risks to the stability of financial markets. To protect themselves from any negative fallout, people ...
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