China's Gold Imports Skyrocket as Middle Class Seeks Stability China’s gold imports surged to a historic high in response to economic uncertainties, with a record import of 1,447 tonnes of gold for non-monetary use in the last year, valued at US$90 billion—a nearly ninefold increase in value from three years prior. This spike reflects the Chinese middle class’s efforts to protect their wealth amidst a faltering property market, a declining stock market, and a weak yuan. The total imported gold, used primarily for jewelry and other non-monetary purposes, surpassed the previous record set in 2018. Domestically, gold sales also soared, with a notable increase in gold jewelry consumption and a significant uptick in gold bar and coin purchases. These trends underscore a growing preference for gold as a safe-haven asset among Chinese investors, driven by a desire for financial security in turbulent economic times. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Goldman Sachs Reveals Record Hedge Fund Sell-Off in U.S. Equities READ MORE Euro Zone Beats Recession Odds, But Economic Challenges Loom READ MORE BREAKING: Biden's $5 BILLION Gift Exposed READ MORE Gold Price Predictions Skyrocket: Wall Street Banks See Record Highs READ MORE Turkey Leads Central Banks in January Gold Purchases READ MORE Add a Comment Cancel replyYour email address will not be published.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