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In their view, the desire to purchase precious metals is fueled by worries regarding how U.S. import tariffs will affect international trade.
Moreover, Chinese regulators have recently permitted ten insurance firms to invest as much as 1% of their assets in gold, potentially creating an annual demand of about 255 tonnes. Citi calculates that this accounts for roughly 25% of all global central bank acquisitions, according to Reuters.
The June gold futures on the Comex exchange experienced a 2.3% increase during trading on Monday, reaching $3403.9 per ounce. Since the start of this year, the valuable metal has increased nearly 29% in value.
source: reuters.com
Moreover, Chinese regulators have recently permitted ten insurance firms to invest as much as 1% of their assets in gold, potentially creating an annual demand of about 255 tonnes. Citi calculates that this accounts for roughly 25% of all global central bank acquisitions, according to Reuters.
The June gold futures on the Comex exchange experienced a 2.3% increase during trading on Monday, reaching $3403.9 per ounce. Since the start of this year, the valuable metal has increased nearly 29% in value.
source: reuters.com
