China Officially Adds to Gold Reserves as It Shifts Away from the US Dollar - SchiffGold.com

China Officially Adds to Gold Reserves as It Shifts Away from the US Dollar - SchiffGold.com

Source: SchiffGold.com

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DW NOTE

China bought another 19 tonnes in September, extending the streak to eight months. But the People's Bank reports its reserves at $198 billion when bullion at spot would value them north of $350 billion — suggesting either the world's most inept central banker or a far larger undisclosed position. Given Beijing's track record with statistical candor, assume the latter.

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