What’s China using to buy the Gold , Credit ? LOL
If China is buying gold with any form of dollars (US T’s), they are “buying” gold with debt.
A dollar is one unit of debt (to the FED). A UST or bond or any paper form of dollars is only a derivative of the dollar, and not real money. THe gold OTOH is real money.
“buying” gold is a divestment - an unloading of a derivative of money to hold the real thing, real money.
(buying gold is NOT an investment)