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What will be the primary reason for China's resumption of gold purchases by mid-2025?
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Resolution / Starting Odds
Economic Policy Strategy • 25%
Hedging Against Inflation • 25%
Geopolitical Tensions • 25%
Other • 25%
Official statements from the People's Bank of China or Chinese government reports
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China Resumes Gold Purchases for Reserves, Adding 72.96 Million Ounces
Dec 7, 2024, 05:30 AM
China has resumed purchasing gold for its reserves after a six-month hiatus, with the central bank increasing its gold holdings to 72.96 million fine troy ounces by the end of November 2024. This decision comes as the country's foreign exchange reserves reached $3.2659 trillion, marking a 0.15% increase from the previous month. The resumption of gold purchases reflects changes in China's reserve management strategy, possibly influenced by the drop in gold prices in November. The move is seen as a signal of China's economic policy direction amid strengthening economic growth.
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Geopolitical tensions • 25%
Economic uncertainty • 25%
Currency diversification • 25%
Other • 25%
Geopolitical tensions • 25%
Inflation concerns • 25%
Currency instability • 25%
Diversification strategy • 25%
Economic instability • 25%
Geopolitical tensions • 25%
Inflation concerns • 25%
Other • 25%
FOMO buying behavior • 25%
Inflation concerns • 25%
Geopolitical tensions • 25%
Other • 25%
Inflation concerns • 25%
Geopolitical tensions • 25%
Increased demand from China • 25%
Other factors • 25%
China increases exports • 25%
China decreases exports • 25%
China maintains current export levels • 25%
New export restrictions introduced • 25%
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