China's Gold Mystery: Is Nation Slowly Increasing Reserves?
- Official data show the holdings haven’t changed since 2016
- Country likely to disclose increase at some point: GoldCore
Photographer: Chris Ratcliffe/Bloomberg
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The case for China raising its gold holdings seems compelling.
A potential trade war with the U.S. that threatens growth, simmering tensions on the Korean peninsula and this year’s slump in gold prices are reasons to buy. But People’s Bank of China data show the country’s gold reserves haven’t risen since Donald Trump was elected President in 2016. Still, this wouldn’t be the first time the central bank has kept silent while adding to its stash.