🇨🇳 GOLD IS DOWN 26% FROM ITS PEAK, YET CHINA IS BUYING MORE THAN IT HAS IN 3 YEARS

In September, the PBOC added another 740,000 ounces (~21 tonnes), its 23rd straight month of buying. Purchases have grown for 4 months in a row, right as gold fell more than 6%.

On the other side, Russia has sold about 56 tonnes of gold since the start of the year, the biggest drawdown in at least 25 years.

Two giants holding similar amounts of gold are moving in opposite directions. Why? Is Russia selling its gold to China? And where will gold go next as the Fed keeps hiking rates?

Read the full story 👇
https://cryptothreads.io/news/china-gold-buying-3-year-high/

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