China Has Been Stockpiling Gold—Analysts Say Actual Reserves May Be Double: A Threat To The US Dollar?

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China’s central bank has been quietly amassing gold reserves, a move that could have significant implications for the global economy, particularly the U.S. dollar.

What Happened: The People’s Bank of China (PBoC) has been steadily increasing its gold reserves since 2022, reported MarketWatch. The bank’s gold purchases have surged, especially after the West froze Russia’s foreign-exchange reserves, a move that spooked foreign central banks and prompted them to buy record amounts of gold.