Yet someone in China keeps buying gold. Lots of it.
“Yet someone in China keeps buying gold. Lots of it.”
Russia and China accounted for 80% of gold purchases last year.
Gold buying is NOT a sign of confidence in the ruble or the yuan quite the contrary.
If, and while, their money still has some value, that is the thing to do.
There is much in the wind about the BRICS people accumulating gold in preparation toward making their proprietary currency based at least 40% on the metal -- hence the phenomenal run-up in its price.