China Extends Gold Buying Streak to 21 Months
China has increased its state gold reserves for the 21st consecutive month, reinforcing its strategy to diversify away from the U.S. dollar and bolster financial stability.
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The People's Bank of China continued its consistent accumulation of gold, marking the 21st straight month of reported purchases. The move highlights Beijing's long-term push to reduce reliance on the U.S. dollar in its reserve portfolio.
Amid ongoing global economic and geopolitical tensions, the steady buying signals official confidence in gold as a strategic hedge and a stable store of value. The sustained trend underscores gold's role as a core reserve asset for China's financial security.
Source: First Squawk