Jonathan Eyal

The People’s Bank of China bought 27 tonnes of gold in the first three months of this year, taking its total reserves to 2,262 tonnes, its largest ever. It has now been buying gold for 17 months in a row, its longest streak since at least 2000, bolstering its reserves by 16pc. That this spree has taken place at a time when prices have been at a record high, shows a degree of urgency, says Jonathan Eyal, associate director at the Royal United Services Institute (RUSI).

Jonathan Eyal, associate director at the Royal United Services Institute (RUSI), said: “The relentless purchases and the sheer quantity are clear signs that this is a political project which is prioritised by the leadership in Beijing because of what they see is a looming confrontation with the United States. Of course it’s connected also to plans for a military invasion of Taiwan.”

Former Northern Ireland Secretary Theresa Villiers argues the European Convention on Human Rights, enforced by the Court, must be overhauled, saying: “The Convention was drafted in a completely different era.” But Jonathan Eyal of the Royal United Services Institute doubts states could agree on what should replace the status quo. He said: “There is no consensus emerging at the moment.”