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China curbs gold imports as trade war heats up

From reuters.com

China has severely restricted imports of gold since May, bullion industry sources with direct knowledge of the matter told Reuters, in a move that could be aimed at curbing outflows of dollars and bolstering its yuan currency as economic growth slows. The world’s second largest economy has cut shipments by some 300-500 tonnes compared with last year - worth $15-25 billion at current prices, the sources said, speaking on condition of anonymity because they are not authorized to speak to the media. The restrictions come as an escalating trade confrontation with the United States has dragged China’s pace of growth to ... (full story)

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  • Category: Fundamental Analysis