🇨🇳 China may be covertly increasing its gold reserves, with analyst @JanGold_ estimating the People's Bank of China (PBOC) imported over 100 tonnes of gold in Q4 2024 through London. Significant discrepancies between imports and private sector purchases suggest hidden activity. In September, while gold prices were low, imports reached 95 tonnes, indicating that much of this went to the PBOC's vaults.

Nieuwenhuijs believes these moves reflect a shift from "dollar recycling" to "gold recycling," as nations seek alternatives amid rising U.S. debt and inflation concerns. This could signal gold's growing importance in the global financial system. 💰