India & China Are Banking Hard On Gold, Ditching Treasury Bonds, Data Shows
India and China, two of the world’s leading nations and prospering economies, are now doubling down on gold. Over the past few years, both nations have been noted for diversifying their holdings in the yellow metal specifically, showing a new pattern of adoption when it comes to embodying skilled asset management. Also Read: XRP Price Struggles Below $2.2—What’s Next for the Week Ahead? India And China Are Doubling Down On Gold Source: Pexels Per a recent post by the Kobeissi Letter, India has managed to amp up its gold reserves to a new high. Per KL, India’s gold reserves are currently valued at $70.9 billion. Over the last 10 years, India has been closely following a pattern of diversifying its assets into gold all while reducing its dependence on US Treasury bonds. China, on the other hand, is also following a similar pattern. The KL post outlined how China has also been showing rising interest in the precious asset and has been accumulating the yellow metal at a rapid pace. Over th...