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— Michael Pettis (@michaelxpettis) September 8, 2023
"China's official gold reserves rose to 69.62 million ounces at the end of August, up from 68.69 million ounces a month earlier, marking the tenth consecutive month of incline." In those ten months China's gold holding were up 11%.
https://t.co/IzlBD20Dew
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— Michael Pettis (@michaelxpettis) September 8, 2023
This implies that the value of gold now accounts for roughly 4% of China's official reserves (3% if we include "hidden" reserves). On average, gold represents 17% of official reserves for advanced economies and 7% for developing economies.
Central banks added 55 tonnes to global gold reserves in July.
— Gold Telegraph ⚡ (@GoldTelegraph_) September 6, 2023
Another month of buying. pic.twitter.com/7uPGGiqAZD
Inflation worries fuel Japanese rush to buy gold | Financial Times https://t.co/cufcElHdbb
— Frank Giustra (@Frank_Giustra) September 6, 2023
Saudi Arabia is turning to metals 🇸🇦
— Gold Telegraph ⚡ (@GoldTelegraph_) September 8, 2023
– They are investing in mining assets all over the world
– The countries mineral endowment is worth an estimated $1.3 trillion
– The Kingdom is considering establishing gold refineries in the country
Long article will be released soon. pic.twitter.com/19Hg75DPbk
Sans bruit
Et puis un jour: si j’avais su!
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