China stocks 100 tonnes of gold Take risks, trade factors

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            China stockpiled gold for international reserves to surpass 100 tons in September. After the war, trade and economic slowdown
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        <p>Today (07 Oct 19), the Chinese central bank (PBOC) revealed that in the past September. China has increased gold holdings as an international reserve, up from 62.45 million ounces to 62.64 million ounces, up 5.9 tons from the previous month. As a result, China&#39;s gold reserves this year increased by 5.2% from the beginning of last year and are now higher than 100 tons. Amid the risk of trade war that pressured the Chinese economy to slow down. <br/>

Overall, China's international reserves fell by 14.8 billion US dollars to 3.092 trillion US dollars or more than 94 trillion baht in Thailand in September. This is more than the decline, Reuters analysts expect Chinese reserves to be less than 6,000 million US dollars. As a result of the exchange rate and the decrease in the value of assets Even though China has more gold holdings But the value of gold as an international reserve fell from 95.45 billion US dollars at the end of August. Remaining 93,045 million US dollars At the end of last September

However, the decline in international reserves in September still occurs, although the Chinese yuan has recovered from August. This is the period that the Yuan currency has depreciated the most in 25 years and since the trade war with the United States. China's renminbi depreciated by 11% compared with the US dollar. China often uses international reserves to support the renminbi. For example, in 2015, China used international reserves up to 1 trillion US dollars to stabilize the yuan.

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