This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: China opens its borders to billions of dollars of gold, silver is the real gold in Biden’s agenda, and a small mountain town in France was hiding a sizeable gold stash.
Chinese imports of gold to explode to over 150 tons between April and May
According to a Reuters exclusive, China is looking to get back on track in terms of gold imports, and in stupendous fashion. Currently, Chinese customs data shows imports of around 10 tons of gold, or $600 million, monthly over the past year. This is a significant decrease compared to 2019, when China imported roughly 75 tons, or $3.5 billion, each month.