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Markets Insider: China is Pushing Ahead With De-dollarization, Hoarding Gold for a 10th Straight Month, Slashing Treasury Holdings to a 14-year Low

Markets Insider: China is Pushing Ahead With De-dollarization, Hoarding Gold for a 10th Straight Month, Slashing Treasury Holdings to a 14-year Low

By: Christine von Liederbach
September 18, 2023
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Article by Joseph Wilkins in Markets Insider

China’s central bank extended its gold-buying spree to the 10th straight month as the world’s second-largest economy seeks to move away from its reliance on dollar reserves. 

The People’s Bank of China’s stockpile of the precious metal climbed by 29 tons in August to 2,165 tons, according to Bloomberg.

A total of about 217 tons were added over the last 10 months, the outlet said.

China’s gold hoarding comes amid the country’s push to erode the dollar’s dominance of global trade and investment flows, as well as its status as ……

To read this article in full, click here.


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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.

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