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3998 Tons of Gold Arrives in China from Europe and America! Shipping Logistics | International Logistics | International Freight Forwarders | Guangzhou Freight Forwarders | Panyu Freight Forwarders | Hongde International
May 16,2023
On May 4, jiu in the U.S. banking storm is still fermenting, further damage to the U.S. financial prestige, superimposed on the Federal Reserve to raise interest rates by 25 basis points as scheduled, and hinted that further interest rate hikes may be suspended, there will be a historic debt default and cash crisis.
According to new data released by the People's Bank of China Zui, as of the end of March, China's gold reserves rose to 2068 tons, an increase of about 18 tons from the previous month, and an increase for the fifth consecutive month, totaling 120 tons. According to the new data released by Swiss Customs on April 26, zui, Switzerland's gold exports to China also continued to rise in March, reaching 84 tons, which made Switzerland deliver up to 230 tons of gold to China in the first three months of this year, up 72% from the same period last year and more than once since 2018.
The new zui report of the World Gold Council is also confirming the above data. The report mentioned that in the first quarter of this year, China's gold imports recorded a strong quarterly performance of zui since 2015. In February alone, China's jiu imported 166 tons of gold, up 100 percent from 76 tons in January, which shows that, since China did not disclose the growth of gold reserves in November 2019 and increased its gold reserves for five consecutive months from November last year to March this year, together with the data released by Swiss customs, it means that 3998 tons of gold have arrived in China from major international gold markets in Europe and the United States.
The process of resetting the U.S. dollar as the world's major reserve currency has begun. This shows that people all over the world are used to calling the U.S. dollar the U.S. currency of the U.S. dollar has a shelf life. The U.S. dollar is not gold. The real gold is gold. In this context, something surprised Wall Street in the U.S. dollar stronghold. In fact, this can be observed from the phenomenon that many central banks around the world have to repatriate the gold reserves that exist in the Federal Reserve in advance. At a time when U.S. debt is listening to thunder in a silent place, there is another thing that the market did not expect.
In this context, China's continued increase in its gold reserves is a wise decision. In the context of global economic uncertainty and national tensions, gold is seen as a relatively safe investment option.
It is reported that in the past 10 years, China has become one of the largest gold consumption markets in the world, and has surpassed India. Through continued gold purchases, China is gradually increasing its influence in the international monetary system.
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