China Officially Adds to Gold Reserves as It Shifts Away from the US Dollar - SchiffGold.com - content.schiffgold.com
China Officially Adds to Gold Reserves as It Shifts Away from the US Dollar - SchiffGold.com - content.schiffgold.com
Source: content.schiffgold.com
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DW NOTE
China added to official gold reserves again last month — though it's calling them "reserves" after routing two decades of accumulation through state banks and holding companies to avoid spooking the Treasury market. The PBOC reports 2,264 tonnes on the books. Independent estimates of state-controlled holdings run north of 8,000 tonnes. Beijing isn't diversifying away from dollars — it already did, quietly, while Yellen was still calling the relationship interdependent.