China builds up gold reserves in shift away from dollar

Nikkei Asian Review/Issaku Haruda and Tomoyo Ogawa/1-24-2019

“China has kept its total foreign-currency reserves steady at just over $3 trillion for the past two years, buying a more diverse array of assets to replace the U.S. government debt it sold. The uptick in its gold holdings was likely part of this shift.”

USAGOLD note:  According to the report linked above, China’s President Xi Jinping recently warned his country to be on the guard against “black swans”.  It will be interesting to see if China announces more gold additions to its reserves in the months ahead.

Repost from 1/25/2019

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