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Record PBoC gold purchases may indicate that China is planning to invade Taiwan – Experts

(Kitco News) – China’s massive and sustained central bank gold purchases are raising fears that the country may not only be shoring up its currency but may also be laying the economic groundwork for a full-scale invasion of Taiwan, according to a Telegraph report published Tuesday.

“The relentless purchases and the sheer quantity are clear signs that this is a political project which is prioritised by the leadership in Beijing because of what they see is a looming confrontation with the United States,” Jonathan Eyal, associate director of the Royal United Services Institute (RUSI) in the UK, told the newspaper. “Of course, it’s connected also to plans for a military invasion of Taiwan.”

China’s gold-buying spree began in October 2022, building up its official reserves to a record high of 2,262 tonnes, valued at $170.4 billion at current prices. The People’s Bank of China (PBOC) added 27 tonnes of gold in just the first three months of 2024.

The PBoC’s current purchase streak came shortly after the United States and its Western allies froze $350 billion in Russian currency reserves held at foreign central banks in response to its invasion of Ukraine.

“There is absolutely no question that the timing and the sustained nature of the purchases are all part of a lesson that [China] have drawn from the Ukraine war,” Eyal said, adding that China’s burgeoning gold reserves are an attempt to insulate the country from the impact of U.S. dollar sanctions if and when it launches its own invasion.

“It was a major shock that it is possible to take sovereign holdings and freeze them,” Eyal said. “I think that was a fundamental change as far as Xi Jinping was concerned.”

President Xi Jinping devoted a part of his New Year’s address to the nation to calls for reunification with Taiwan.

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GET READY FOR TURBULENT MARKETS IN 2019: Gold & Silver To Outperform Most Assets

GET READY FOR TURBULENT MARKETS IN 2019: Gold & Silver To Outperform Most Assets

Investors should prepare for crazy and turbulent markets in 2019.  As the correction in the broader markets picks up speed and heads much lower, investor worry will start to turn into fear.  At this point, the precious metals will likely disconnect from the markets and move higher as investors move into gold and silver to protect wealth.

I discuss this in my newest video update: DOW, GOLD & SILVER:  Markets Disconnect In 2019.  In the video, I show how gold and silver rallied over the past month while the broader markets, copper, and energy sold off.  I believe the precious metals will continue to disconnect even further from the markets in 2019 and 2020.

In the video, I also describe the image below and why the U.S. Shale Oil Industry continues to lose money:

This shows the typical slick water shale frac completion layout and the massive amount of equipment and energy it takes to produce shale oil and gas.  The drilling rig has been removed, and the wellheads (in RED) receive an enormous amount of water, frac sand, and chemicals under high pressure from the 20 pressure pumping truck rigs.

Furthermore, I explain the following chart and why the gold price will continue to disconnect from the Dow Jones Index in 2019:

While I explain more technical analysis in the video, the fundamentals will still play a leading role in guiding the economy and markets over the next several years.  However, the technicals provide us with a crystal ball in how the prices will trade over this period.

Olduvai IV: Courage
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Olduvai II: Exodus
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