Hong Kong’s big fortunes run away with their gold

By patou | patou | 12 Aug 2020

Relations between China and Hong Kong continue to be strained. Some investors choose to relocate part of their investments, including gold, fearing political instability.
As gold has just hit a new record, trading at $ 2,000 an ounce, many Hong Kong investors are choosing to relocate their rare minerals.
So, according to Joshua Rotbart, Director and Gold Custodian J Rotbart & Co., many of his clients have decided to relocate their gold, previously located in Hong Kong, to other more stable jurisdictions.


Indeed, Hong Kong is at the heart of the "One country, two systems" policy, implemented in 1997. Thus, it will remain an independent country until 2047, when it will be fully integrated into China.
In the meantime, the Middle Kingdom continues to implement various measures aimed at reducing Hong Kong’s independence. The latest seeks to reduce Hong Kong's foreign influence.
This climate creates uncertainty and risk for investors, as they choose to relocate their possessions to more stable territories, such as Singapore:
“Investors move gold from Hong Kong to Singapore because they don't like risk and uncertainty. », Joshua Rotbart
Indeed, Chinese law does not allow the export of gold. However, the ongoing annexation may well extend this legislation to Hong Kong territory, blocking many investors.


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Indeed, unlike gold, which requires a physical security service, BTCs know no borders.


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