I'm not sure because there's a massive amount of disinformation around but below is a synopsis of one reason the Chinese and others may be buying gold.
I'm pretty sure the information is correct from across all my sources but whilst the western countries have leaks, that utilise freedom of information, which tends to keep them honest the authorities regimes have No scruples. of course gold is the old "Follow the money aphorism".
https://www.theage.com.au/business/the-economy/china-has-a-12-4-trillion-elephant-in-the-room-20230417-p5d0xi.html
All IMVHO.
Who is going to get a bargain!, page-632
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