Gold
Gold Markets Rally on Weakness in Dollar
Gold prices recovered this week after touching a two-month low, with bargain buying emerging as the dollar and US Treasury yields eased. Middle East tensions and inflation data are expected to shape precious metal prices in the coming days.
Illegal Gold Mining Ravages French Guiana
French Guiana is facing a boom in illegal gold mining operations, with over 600 unregistered sites in the rainforest-covered territory. The surge, driven by global gold prices exceeding $150 per gram, harms local communities and devastates the environment while connecting to trafficking networks in Brazil and Suriname.
China Accumulates Record Gold Reserves for Monetary Strategy
China is importing unprecedented quantities of gold as part of a broader strategy to reduce dependence on foreign currency reserves. The accumulation supports China's efforts to establish an alternative monetary architecture centered on the yuan.
China's Gold Purchasing Strengthens Yuan Globally
China is significantly expanding its gold reserves, coinciding with plans to develop a gold trading hub in Hong Kong. This strategy aims to boost the yuan's international status and competitiveness as a reserve currency.