Newsweek: Why Is China Buying So Much Gold?
Article by Hugh Cameron in Newsweek
The price of gold has been on a monumental rally in recent weeks, driven by renewed demand amid rising economic and geopolitical tensions.
Experts credited the surge to buying from the Asian market, and China in particular, telling Newsweek that gold bugs in both the public and private spheres appear to be increasingly banking on the metal's long-term safe-haven status, given the contemporary threats facing global trade.
Early last week, the metal broke through $3,500 per troy ounce for the first time in history.Although it has since dropped to just over $3,300, gold is still priced around 40 percent higher than this time last year—and well above what some analysts had previously expected it to reach by the end of 2025.
Adrian Ash, director of research at BullionVault, said that the rise had been driven by Chinese ......