China’s gold reserves have reached a record high of $369.6 billion as of January, following 15 consecutive months of accumulation by the People’s Bank of China. This surge is in line with China’s ongoing strategy to diversify its foreign exchange reserves, moving away from traditional currencies toward commodities like gold. This aligns with a broader global trend where central banks are turning to gold as a safe-haven asset, aiming to mitigate risks arising from currency fluctuations and geopolitical tensions.
People’s Bank of China gold reserves hit record $369.6B
