China Increased Gold Sales from Russia in October and November!

Gold Trade Between China and Russia

According to Chinese customs data, Russia's gold sales to China reached 961 million dollars in November. In October, this figure was 930 million dollars. The shipments that occurred in the last two months constitute a significant portion of the bilateral trade volume, indicating a deepening of economic relations between the two countries.

Beyond the Official Data

However, analysts express that the official figures are only the tip of the iceberg. Analyses suggest that the actual purchases undertaken by China to reduce its reliance on dollar reserves are roughly ten times higher than the official data. Particularly, the French bank Societe Generale predicts that there are higher purchases than the figures from the People's Bank of China (PBOC), indicating a hidden demand for gold.

Gold: A Reliable Instrument in Times of Crisis

In today's climate of increasing economic uncertainty, BullionVault Research Director Adrian Ash points out that gold is the “indispensable instrument of crisis periods.” For instance, Russia's payments for kamikaze drones acquired from Iran being made in gold bars exemplifies this situation and highlights an important factor behind the growing demand for gold.

Signs of Change in Global Geopolitics

The increase in reserves by India and Poland also signals a rising atmosphere of “fear and insecurity” on a global scale. The purchases by these countries reveal the ongoing quest for financial stability worldwide and the strategic measures being taken. Economic and political factors will continue to influence the future of gold trade internationally.