As Dollar Rises, China's Central Bank Continues Gold Buying Spree Due to the strong U.S. dollar, exacerbated by the Federal Reserve’s interest rate hikes since March 2022, China’s central bank, among others, is increasingly investing in gold as a hedge against economic uncertainty. With the Dollar Index up 10% since early 2022, the cost of imports for emerging nations like China has surged, further driving their shift towards gold. This trend has led to a record spike in gold prices, as evidenced by China’s central bank adding 60,000 troy ounces to its reserves in April alone, marking the 18th consecutive month of significant gold acquisitions. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts U.S. Jobless Claims Hold Steady, Suggesting Strong Labor Market READ MORE Evergrande's Liquidation: A Significant Turn in China's Property Crisis READ MORE Dollar Rises as Geopolitical Tensions Mount; Oil Prices Climb Amid Middle East Concerns READ MORE Fed Survey Reveals Growing Pessimism Among US Companies READ MORE Ukrainian Drones Strike Deep, Hitting Major Russian Oil Refinery READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment