Chinese citizens are being urged to buy gold.
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| The World Gold Council reports that, in August, central banks bought 77 tons, 38% more than in July. China, Poland and Turkey headed the list of buyers..
Chinese citizens are being urged to buy gold. The People’s Bank of China has opened a facility to convert cash savings that into gold.
Poland’s gold reserves now stand at 314 tonnes. Turkey is also rebuilding its holdings adding 15 tonnes in August.
Gold has been an essential component in the financial reserves of nations for centuries, here's why:
Gold can hedge inflation
Gold can hold its value and preserves your purchasing power over time, despite a wavering dollar.
You can diversify your portfolio with gold
During times of economic downturn, gold can be a smart way to ensure a diverse portfolio.
Get prepared now: FREE copy of the 2023 Smart Savers Playbook
Gold has liquidity
In a recession, liquidity — is key. If you fall on hard times, you have the option to cash in on physical assets like Gold.
Inverse Relationship to The Dollar
Historically, Gold has an inverse relationship with the US dollar. When the dollar dips in value, gold typically rises,
No Credit, no counter-party Risk
Gold carries no credit or counter-party risks, it serves as a source of trust in a country, making it one of the most crucial reserve assets worldwide.
Financial analysts expect central banks to continue buying gold as nations diversify away from the U.S. dollar.
Learn How to Buy Gold & Silver with a free copy:
The 2023 Smart Savers Playbook |
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