As the USA increased its debt, China was busy increasing its gold reserves for a third straight month in February. The country's gold reserves amounted to 60.26 million ounces by the end of February according to the People's Bank of China (PBOC).
Her Gold reserves were equivalent to around 79.5 billion U.S. dollars, edging up from 79.3 billion dollars in the previous month.
According to the WGC, global gold demand increased 4 percent year on year to 4,345.1 tonnes last year and the amount of gold bought by central banks reached the highest since 1971, the year when the dollar's peg to Gold bullion for foreign exchanges was scrapped. Gold reserves of central banks around the world surged 651.5 tonnes, or 74 percent year on year, in 2018.
Meanwhile in the USSA...the debt grew another 100 Billion last month.
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