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Gold confirmed as important strategic asset with Chinese central bank announcement

China’s central bank has issued new data confirming its fourth consecutive monthly increase in gold holdings. It confirmed the acquisition of 28.9 tonnes of gold in February, a move that experts believe is a strategic statement of intent.

It’s widely expected that China will continue to buy gold each month and publish that data – something it only started to do in November – as a sign that it has an international currency. This ups the ante for other central banks and underlines the international value of holding gold.

The co-founder of MarketWatch, Thom Calandra said this is a significant trend. He explained, “I think gold will be an important strategic asset for central banks and investors need to pay attention.”

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