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China has added to its gold holdings for the 12th consecutive month in October, contributing to a surge in purchases by global central banks and supporting bullion prices. The country purchased an additional 23 tons of gold, while also reducing its US Treasury holdings. This move has led to speculation about China's intentions with its USD holdings, with some suggesting that the country is using the funds to buy gold instead. The consistent increase in China's gold reserves indicates a long-term strategy to reduce assets that could be subject to sanctions.
In October, China continued to sell US debt bonds and increased its gold reserves by another 23 tons. China has been consistent on this issue for years and has been quietly reducing assets that the US can subject to sanctions.
China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices https://t.co/Hi9QVbYZlv
China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices https://t.co/7jZ2l96sYe
Nothing to see here: China has added another 23 tons of gold in October. Something else for the Western China experts to chew on given they keep claiming that China is dumping USTs because they need dollars. They are dumping them to buy gold. As ever be informed, not… https://t.co/p88TbupoqD
China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices https://t.co/YXkFMCsQYd
China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices https://t.co/9sghy41RJm
China topped up its gold holdings for a 12th straight month in October, adding to a wave of purchases by global central banks that’s lent support to bullion prices https://t.co/F5uXGY1rf3
Chinese authorities allow the US Treasury holdings to dwindle, but what do they do with the USDs? Among other things, they BUY Gold. Another month of Gold buying by the PBoC alongside dwindling FX reserves overall (some intervention has likely been undertaken directly to… https://t.co/GCLjreEJeD https://t.co/GTULUgac1f
Metals Extend Rally With China Seen Giving More Economic Support https://t.co/caFlnqPz7N
Metals Extend Rally With China Seen Giving More Economic Support https://t.co/BrKMQdY3Zb
Metals Extend Rally With China Seen Giving More Economic Support https://t.co/Q6jcZIeFqT