Gold Demand Continues To Soar In China

#Gold Demand Continues To Soar In China

While the price of gold has come in this week, it has rallied slightly on Thursday morning trading, and still remains within shouting distance of the $2,000 mark. And one reason that the price has performed as strongly as it has, is that in addition to a strong overall level of central bank gold buying, China continues to be a strong consumer of gold.

Of course there are numerous reasons for China to continue to buy so much gold. Because at the same time that it continues its de-dollarization efforts with Russia and the other BRICS nations, it has to also be concerned about the potential for sanctions, especially should it move forward with a conflict in Taiwan.

Meanwhile, concerns about the supply coming online of US treasuries continues to offer another reason to be diversifying assets, at a time when concerns of bank runs remain. In fact the concerns are significant enough that in Switzerland, banking officials are considering new measures to restrict deposit withdrawals, which sets a disturbing precedent, and perhaps offers even greater reason for investors to have access to their capital.

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