30 April 2024
China’s recent accumulation of a $170 billion gold reserve, following a record 27-tonne purchase that raised its total to 2,262 tonnes, has sparked concerns over its preparations for potential conflict regarding Taiwan. The People’s Bank of China’s strategic buying, which began in October 2022 and marks the longest gold stockpiling period since 2000, appears to be a precaution against Western sanctions in case of escalating tensions with Taiwan.