China Is Buying Gold, Sending Prices to Record Highs

The global gold price has soared to record levels, driven by substantial buying in China amid diminished confidence in other investment forms like real estate and stocks. Chinese consumers, including individuals like 25-year-old Xena Lin, are purchasing small amounts of gold, while the nation’s central bank is also increasing its gold reserves. This surge in demand has propelled gold prices despite traditionally bearish factors like high interest rates and a strong U.S. dollar.