China produces about 380 tons annually, closely followed by Russia and well behind Australia and the United States.
ManuelRD
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Bearish
#GoldHitsRecordHigh 🔥🚨🔥🚨🔥🚨🔥 China takes advantage of global distraction and seeks to become the custodian of world reserves
The price of gold reaches a new record and Beijing advances towards the “de-Westernization” of the global bullion market and the de-dollarization of the global financial system.
The gold rally has accelerated since August and has generated a return of more than 12% over the last month supported by a growing positioning of futures and inflows into ETF funds.
As well as in a seasonal rebound of demand from central banks. Operators in the global commodities market, particularly in metals, while validating new record prices for the precious metal.
The People's Bank of China (BPoC) is using the Shanghai Gold Exchange (SGE) to persuade central banks of allied countries to buy bullion and store it within their borders,
China is the largest producer and consumer of the precious metal, and its greater participation in the global bullion market could imply a relaxation. #etf $BNB
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