China's de-dollarization efforts shake global finance, boost gold purchases, impact US dollar's dominance

Rudy Havenstein, Senior Markets Commentator.@RudyHavenstein

2 years ago

"Who's buying gold? The Chinese have been buying gold. Bigtime." - @WeldonLIVE https://t.co/hDK5E1mISH

'Gold was approaching 5% of China's total reserves as of April—a rise from around 3% in 2022. If China allocates just 1% more of its reserves into gold, that would be equal to around 9% of total global supply last year, using current prices.' https://t.co/NHeRZXtd9g

Eric Wallerstein@ericwallerstein

2 years ago

With China's gold reserves at all-time highs and gold prices at records, it's natural for the 'de-dollarization' crowd to get louder. We're not buying it 🧵 https://t.co/euI09NsHgw