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China buys gold for 23rd month
China bought 740,000 ounces of gold worth $3.1B, its 23rd straight month of accumulation, totaling 4.67M ounces.
Key points
- China bought 740,000 ounces of gold worth $3,100,000,000, its 23rd consecutive month of gold accumulation.
- Over the past 23 months, China added 4.67 million ounces of gold to its reserves, worth approximately $19.5 billion.
- China now holds roughly $323.5 billion worth of gold in its reserves.
Key points and the reaction summary are written by AI from the posts on this page. Check the original post. How we use AI
Original post
Top replies on X
Reaction on X: Most replies frame the buying as a move away from the USD, with one citing reduced dependence on the dollar to guard against possible sanctions like those on Russia after the Ukraine war began, and another saying 23 straight months of buying signals dissatisfaction with the current system. Others ask what China might be preparing for and joke about Canada's reserves.
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From @GoldSilverHQ, @MrMacroEc, @RaidArenaFun and others. Spam removed, with English and Chinese translations.
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