China extends gold buying streak to 20 months amid de-dollarisation efforts

China's central bank has continued its extensive gold purchases for the 20th consecutive month, adding approximately 14.93 tonnes in June. This sustained accumulation aims to diversify the nation's foreign-exchange reserves and decrease reliance on US dollar-denominated assets. The move is seen as a strategic effort to enhance reserve security against sanctions and global financial volatility, even as gold still represents less than 10% of China's total reserves. AI

RANK_REASON Significant economic policy action by a major global economy, involving diversification of reserves and de-dollarisation strategy. [lever_c_demoted from significant: ic=1 ai=0.1]

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• China
• People's Bank of China
• State Administration of Foreign Exchange
• Us Federal Reserve
• World Gold Council

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