China's buying gold are you gold silver China
- It’s official, 2022 was a record year for central bank gold demand, according to updated research from the World Gold Council.
China’s last shopping spree was from 2002 to 2019, accumulating 1,148 tonnes of the precious metal during that 17-year period. However, the WGC said that it also sees signs that lackluster investment demand could be turning a corner. The outflows were led by European-listed funds, with North American funds seeing inflows of nine tonnes, valued at $572 million.
Meanwhile, Polleit said there is no way the Federal Reserve can lower inflation without causing a recession. He added that when the recession does hit, the central bank will quickly reverse course and that is when gold will shine. The U.S. government officially reached its borrowing limit last month and with some creative accounting, the Treasury Department is expected to be able to pay its bills until June.
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