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IPFS News Link • Gold and Silver

China gold purchases soar 30% on economic anxiety

• Nikkei Asia

TOKYO/SHANGHAI -- Chinese gold purchases rose 30% in 2023, as the country's central bank bought the commodity to replace its dollar holdings amid tensions with the U.S. and individual investors sought a haven for their assets as the economy stumbled.

The data comes from the World Gold Council's 2023 Gold Demand Trends report, released on Wednesday.

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