As the Chinese central bank (PBoC) in 2024 has secretly bought approximately 600 tonnes with $50 billion U.S. dollars, it’s confident about where the dollar price of gold is going: UP.
China no longer wants US treasuries as the Fed can’t raise interest rates high enough to keep pace with increase on the price of oil production. BRICS nations need gold to back maybe the yuan for internal energy trade.
China no longer wants US treasuries as the Fed can’t raise interest rates high enough to keep pace with increase on the price of oil production. BRICS nations need gold to back maybe the yuan for internal energy trade.