De-dollarization efforts see China expand its gold reserves for 6 straight months
China's gold reserves grew for the sixth consecutive month in April, as the country added another 8.09 tons to its expanding stockpile.from the State Administration of Foreign Exchange. It purchased 120 tons in the five months ahead of April.
The expansion trend is on par with other foreign central banks, many of which have been boosting gold purchases to minimize reliance on the US dollar.of gold in the first quarter, a moderation from previous months but still a historic jump from prior years. Among the largest buyers, China ranked second, a World Gold Council report shows.
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