Chinese investors are reportedly gold and seem to run in local shares.
New facts From Bloomberg indicates that the four large onshore-onshore-onshore-on-supported listed funds (ETFs) have witnessed the combined net outflows of around 3.2 billion Yuan (worth almost $ 450 million) to date this month.
Steve Zhou, an analyst at Huaan Fund Management Co., says Bloomberg that local Chinese retail investors take a profit in gold and turn it upside down in local shares.
The CSI 300 index, which aims to replicate the performance of the Top 300 shares that were traded on the Shanghai Stock Exchange and the Shenzhen Stock Exchange, has risen almost 5.5% in the past month.
Conversely, however, the Chinese government has reportedly bought a lot more gold than some public figures announced.
Joseph Cavatoni, market strategist at the World Gold Council, MarketWatch says that there is a debate about whether the People’s Bank of China’s (PBOC) purchases its activities completely.
Jan Nieuwenhuijs, an analyst at Money Metals, says that the golden interests of the Chinese central bank are probably more than double what is officially reported.
Nieuwenhuijs claims that the PBOC kept 5,065 tons of gold in its reserve at the end of 2024 compared to the reported interests of 2,280 tons.
The latest data from the World Gold Council indicates The Chinese government has 2,296 tons of gold.
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