For many years King World News has been reporting on China’s insatiable appetite for gold. Well, amazingly China’s foreign currency reserves can now buy the entire world’s gold supply twice over. The stunning graphic below depicts this truly astonishing fact.
The graph also depicts the combined gold reserves of India, Russia and Brazil. What is fascinating about this 10-year chart is not only the fact that China can buy the entire world’s gold reserves twice over, but also to see the explosion in China’s reserves. According to Bloomberg, China’s foreign currency reserves have surged more than 700% in just the last 9 years alone. This chart illustrates a key point and a very frightening one for the gold bears, that China’s demand for gold will remain insatiable for many, many years to come: