According to Goldman Sachs, China actually purchased a whooping 50 tonnes of Gold in February , or 10 times more than officially reported.
They also increased their gold holding by 5 tonnes in March. In April current reports says that they also sold some seized bitcoin via offshore exchanges to accumulate more gold.
Gold is also preferred over bitcoin as a safe haven asset in times of war. Which means that the demand for gold continues to increase as long as warring countries does not resolve their conflict.
Here is my intra-day long setup. I'm taking a buy as soon as price retest that broken support @ 3395 targeting take profit @ 3425 for a 1:3 risk-reward.
They also increased their gold holding by 5 tonnes in March. In April current reports says that they also sold some seized bitcoin via offshore exchanges to accumulate more gold.
Gold is also preferred over bitcoin as a safe haven asset in times of war. Which means that the demand for gold continues to increase as long as warring countries does not resolve their conflict.
Here is my intra-day long setup. I'm taking a buy as soon as price retest that broken support @ 3395 targeting take profit @ 3425 for a 1:3 risk-reward.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.