China Buying Lots of Gold

Uggggh.

Down the yellow brick road: China buying gold & dumping dollar assets as trade war with US escalates

Analysts say Beijing was doubling down on gold “to diversify its reserves” away from the greenback. The country has been selling off US Treasuries lately, with its holdings having plunged from the peak of $1.32 trillion in late 2013 to about $1.1 trillion in April.

The increased gold purchasing by Asia’s top economy comes at a time when global central banks are accumulating the precious metal in record numbers. Russia has been the top buyer of gold, adding about 274 tons to its reserves last year. In the first 5 months of 2019, Russia added 78 tons of gold to its coffers, increasing the metal’s share in its international reserves by 3.7 percent.

(https://www.rt.com/business/462546-china-gold-trade-war/)


Catch that...... "away from the greenback".  They clearly see something that our own government fails to recognize -- the stability of the dollar gets weaker and weaker by the day, by the month, by the year.

Not good, folks.


Grace & Peace & Love to you all -

Matt