Category: gold reserves

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

April 18, 2023
Business & MarketsChinaChina Business & Economychina sanctionsDe-DollarizationGold and Commoditiesgold reservesMarketsUS-China relations
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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…

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The US Dollar Is Not Going Anywhere

April 10, 2023
Business & MarketsBusiness Columnistsgold reservesOpinionreserve and trading currencythe U.S. dollarthe YuanThinking About China
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Commentary China, Russia, and other countries want to drop the U.S. dollar, but there is no alternative. In recent weeks, Chinese state media, cryptocurrency media, and other non-mainstream media have been running stories about how the world is abandoning the U.S. dollar as its reserve and trading currency. Other reports claim that the yuan is…

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China Bulks Up Gold Reserves, Reduces US Treasury Bond Holdings

January 8, 2023
Business & MarketsChinaChina Business & EconomyChinese RegimeGold and Commoditiesgold reservesMarketsTreasury Bonds
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China added 1.03 million ounces (32 tons) of gold to its reserves in November 2022, according to an official statement by China’s State Administration of Foreign Exchange (SAFE) on Dec. 7.  Meanwhile, its holdings of U.S. treasury bonds fell to a 12-year low. Analysts speculate that while China augments its gold reserves to hedge against risk,…

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Russian Central Bank to Restart Gold Purchases From Banks

March 26, 2022
bank of russiaBusiness & EconomyEuropegold reservesMarketsNew Sanctions on RussiaRussia-Ukraine WarWorld
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Russia’s central bank plans to restart its purchase of gold from banks beginning March 28 in a bid to “balance supply and demand in the domestic precious metals market,” and bring back a semblance of normalcy to the country’s economy. The central bank will pay a fixed rate of 5,000 rubles ($49) per gram of…

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China Eyeing Russian Energy, Assets, Shares to Find Openings to Strengthen Power

March 13, 2022
ChinaEuropegold reservesInternational RelationsRussia-ChinaRussia-UkraineRussia-Ukraine WarRussia's energyWorld
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China is considering buying energy, assets, and stakes in Russia’s bulk commodities companies. Albert Song, a current affairs commentator familiar with the Chinese financial system, told The Epoch Times that during the Russia-Ukraine war, the Chinese Communist Party (CCP) has a huge appetite for commodities as part of its goals to expand its aggressive powers…

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