China’s Central Bank Increases Gold Holdings to Prepare for US Sanctions: Analysts

China’s Central Bank Increases Gold Holdings to Prepare for US Sanctions: Analysts
Gold bullion bars in bank vault storage. Corona Borealis Studio/Shutterstock
Anne Zhang
Olivia Li
Updated:
0:00

For the past five months, China’s central bank has been increasing its gold reserves while simultaneously decreasing its holdings of U.S. bonds. Industry experts believe that this move is in anticipation of future sanctions that China may face.

According to data recently released by China’s State Administration of Foreign Exchange and reported by financial news outlet Caixin, in the three years between September 2019 and October 2022, China’s gold reserves remained unchanged.

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