成批黄金直运黄金，特朗普突然发现情况不妙，中国还防了他一手

Core Insights - China's gold imports surged to 127.5 tons in April, a 73% month-on-month increase, marking an 11-month high, while simultaneously reducing its U.S. Treasury holdings by $18.9 billion to $765.4 billion [1][3] - The reduction in U.S. Treasury holdings reflects a broader trend of decreasing confidence in U.S. creditworthiness, exacerbated by rising national debt, which has reached $36.1 trillion, and a growing fiscal deficit [1][3] - The increase in gold imports indicates a shift towards safer assets amid global economic instability, with central banks globally purchasing over 1,000 tons of gold annually from 2022 to 2024, significantly higher than the average of 473 tons from 2010 to 2021 [3][5] Economic and Trade Relations - The U.S. credit risk is impacting the attractiveness of U.S. Treasuries, with the Trump administration's erratic economic policies and trade protectionism contributing to a decline in investor confidence [3][5] - China's strategy of reducing U.S. Treasury holdings while increasing gold reserves is a response to uncertainties in U.S.-China trade relations, aiming to mitigate potential losses from unfavorable U.S. economic measures [5][9] - China is actively diversifying its trade partnerships, notably strengthening ties with ASEAN, which includes completing negotiations for a new version of the China-ASEAN Free Trade Area, thereby reducing reliance on the U.S. market [8][9] Market Dynamics - The price of gold has been on an upward trend, driven by ongoing global monetary easing and geopolitical tensions, which enhance its appeal as a safe-haven asset [5] - The shift in Australia's trade policy, emphasizing its partnership with China over the U.S., reflects China's growing significance in the global economic landscape and challenges the U.S.'s strategy to isolate China [8][9] - Overall, China's actions in reducing U.S. debt holdings and increasing gold investments are part of a broader strategy to safeguard its economic interests amid a complex international environment [9]