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Further Discussions => Banks & Cryptos => Topic started by: sirty143 on June 09, 2024, 07:05:43 AM

Title: China Halts Gold Buying in May, Ending 18-Month Buying Spree
Post by: sirty143 on June 09, 2024, 07:05:43 AM
China Halts Gold Buying in May, Ending 18-Month Buying Spree

The People’s Bank of China (PBOC) paused its gold acquisitions in May, ending 18 months of continuous buying as spot gold prices hit record highs. Despite this interruption, the value of China’s gold reserves continued to rise. See more for yourself here (https://news.bitcoin.com/china-halts-gold-buying-in-may-ending-18-month-buying-spree/).

Your opinion is greatly appreciated.



Title: Re: China Halts Gold Buying in May, Ending 18-Month Buying Spree
Post by: Crwth on July 31, 2024, 01:19:18 PM
I think they are just collecting more gold and probably hedging their Yuan Into and making sure that if If  For now, rigtheir money collapses, they have actual gold for trading or something. Maybe they had enough For now, right?
Title: Re: China Halts Gold Buying in May, Ending 18-Month Buying Spree
Post by: Aanuoluwatofunmi on September 16, 2024, 07:57:19 AM
China is a kind of country that monitors everything concerning their economy, they ensure that there is law and order there in their countries and they make sure that they set up some effective policy measures to enable their economy grow more faster and bigger, for taking any decision, they have their own reasons on that, this could be on any stand which others may not be able to know why.
Title: Re: China Halts Gold Buying in May, Ending 18-Month Buying Spree
Post by: Findingnemo on September 19, 2024, 10:27:53 PM
China is a kind of country that monitors everything concerning their economy, they ensure that there is law and order there in their countries and they make sure that they set up some effective policy measures to enable their economy grow more faster and bigger, for taking any decision, they have their own reasons on that, this could be on any stand which others may not be able to know why.

They stopped buying because of the threat that price of gold might fall later this year and China had their reasons for every decisions they made but it doesn't make that they're doing everything right and no offense it's a country that lacks transparency, they could be buying in other ways after announcing they're not just to influence the price to drop further and buy back at cheaper prices.
Title: Re: China Halts Gold Buying in May, Ending 18-Month Buying Spree
Post by: Z-tight on September 21, 2024, 11:33:05 PM
They know what they are doing and they would do what they think is best for their economy and their country. High prices is the reason why they stopped, but they are going to resume sooner rather than later. Their gold reserves is not so large, so they are surely going to consider buying more gold in the future.
Title: Re: China Halts Gold Buying in May, Ending 18-Month Buying Spree
Post by: Aanuoluwatofunmi on October 17, 2024, 07:25:42 PM
China is a kind of country that monitors everything concerning their economy, they ensure that there is law and order there in their countries and they make sure that they set up some effective policy measures to enable their economy grow more faster and bigger, for taking any decision, they have their own reasons on that, this could be on any stand which others may not be able to know why.

They stopped buying because of the threat that price of gold might fall later this year and China had their reasons for every decisions they made but it doesn't make that they're doing everything right and no offense it's a country that lacks transparency, they could be buying in other ways after announcing they're not just to influence the price to drop further and buy back at cheaper prices.

That true, i also learnt that the market price of gold hit its all time high few months ago and this is getting more exciting for those interested in making investment in it, but as of now, in other for us to be able to make more profits from it, we had better wait till the market goes dip as China also made their decision before we can invest, this is just a simply ideology of buying the dip and holding.