State-backed miners have enjoyed the golden fruits of Chinese — and overseas — reserves.
China leads the world in gold production. Credit: Julia Berezovska/ Press office NBU, Creative Commons
Gold prices did what they often do in times of economic turmoil in 2020, surging to a record high above $2,000 an ounce by August as investors sought out the traditional safe-haven commodity. Demand for the yellow metal was particularly high among exchange-traded funds, although interest faded as pandemic-related uncertainty receded later in the year.
For Chinese gold producers, like their counterparts elsewhere, the initial surge in prices was a boon nevertheless. China leads the world
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