Exclusive: China curbs gold imports as trade war heats up

Reuters/Peter Hobson and Yawen Chen/8-14-2019

photo of elaborate Chinese gold bar“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.”

USAGOLD note:  Reuters goes on to say that China has cut incoming shipments by 300 to 500 tonnes.  This could lead to higher yuan-based prices within China for the gold already on hand.  How that will affect the international dollar-based price of gold will be an interesting situation to monitor.  There will be plenty of opinion generated in the gold space on this news. This article is a lengthy treatment of the subject and highly recommended.

Repost from 8-14-2019

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