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RE: Five countries with the world’s biggest gold reserves

in #gold • 6 years ago

While gold is found throughout the world, the USA has incredibly rich reserves. Which may be why we are not actively buying gold in the international market at the moment.

Also may have to do with the fact that gold, while a store of value, may never be a currency again. Also, it's commercial value is is over shadowed by silver.

I too am surprised that China is not on the list. They have been pushing their citizens to buy gold for a number of years now.

Very interesting article.

6 years ago in #gold by
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     6 years ago (edited)

    I think in China it’s mainly citizens not regulators buying gold.

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       6 years ago 

      Good point. But it then begs the question, why is the Chinese government pushing the citizens. Are they planning on confiscating in the future?

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       6 years ago (edited)

      Citizens there just trust gold as a store of value. Most of them probably remember times where their currency was unstable, don’t trust the stock market and can’t afford or don’t want to put all their savings into real estate.