Major international events often accompany the surge in gold price, repeatedly confirming the investment hedging rule ‘purchasing gold in troubled times.’
Behind the scenes, China’s bid to increase its power at the IMF has turned into a fierce negotiation about who will control global finance in the future.
There are many steps China has taken to get into the U.S.-led International Monetary Fund. One of the key pieces of the puzzle will likely come to fruition later this year.
After five years of hibernation, another, more obscure area of the financial institution might actually shed light on another mystery: China’s gold reserves.
China’s private sector is amassing gold and has outpaced India, pushing that country to second place in 2013, according to a mid-April report by the World Gold Council (WGC).