The People's Bank of China lifted gold reserves 15.7% MoM in January to $369.6B. 8 straight months of increases. 15 consecutive months of buying. Since October 2022, reserves are up $266.9B, a 260% surge. Holdings now sit at a record 2,308 tonnes. This is not portfolio noise. It is strategic diversification away from dollar exposure. When a central bank buys this aggressively, it is signaling long term positioning.
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China is stockpiling hard assets at record scale.
The People's Bank of China lifted gold reserves 15.7% MoM in January to $369.6B.
8 straight months of increases.
15 consecutive months of buying.
Since October 2022, reserves are up $266.9B, a 260% surge.
Holdings now sit at a record 2,308 tonnes.
This is not portfolio noise.
It is strategic diversification away from dollar exposure.
When a central bank buys this aggressively, it is signaling long term positioning.