“Gold boosted to new records as China beefs up reserves”
April 10, 2024
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By the numbers: Bullion still makes up a large portion of global central bank reserves.
- U.S. leads the world’s official bullion holdings, with 69.7% of reserves which is 8,133 tons as of February 2024.
- But in 2023, China outpaced all central banks, adding 225 tons of gold to its reserves. That was the highest increase since 1977, with total gold reserves reaching 2,235 tons by the end of December last year.
- As of February 2024, gold accounts reached 4.3% of China’s official foreign exchange reserves from 2.9% in 2019.
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