{"id":3630,"date":"2023-07-09T15:39:23","date_gmt":"2023-07-09T13:39:23","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=3630"},"modified":"2023-07-09T15:39:23","modified_gmt":"2023-07-09T13:39:23","slug":"china-de-dollarizing-reserves-gold-stockpile-climbs-for-8th-straight-month","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=3630","title":{"rendered":"China de-dollarizing reserves, gold stockpile climbs for 8th straight month"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Amid growing economic and geopolitical instability, China is stepping up the de-dollarization of its reserves, with the central bank continuing to buy gold for the eighth consecutive month. <\/p>\n<p>The People&#8217;s Bank of China added 23 tons in June and now holds 2,330 tons of gold in its reserves, according to official figures.<\/p>\n<p>Other central banks are also ditching the greenback as a global reserve asset and increasing their yellow metal stockpiles. Demand for gold skyrocketed in 2022 and the trend has continued into this year with first-quarter purchases up 176% annually.<\/p>\n<p>According to a World Gold Council report from May, 62% of central banks estimate that gold will make up a greater share of reserves in the next five years. While dollar reserves are projected to shrink to 40-50%.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Amid growing economic and geopolitical instability, China is stepping up the de-dollarization of its reserves, with the central bank continuing to buy gold for the eighth consecutive month. The People&#8217;s Bank of China added 23 tons in June and now holds 2,330 tons of gold in its reserves, according to official figures. Other central banks [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-3630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/3630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3630"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/3630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/3631"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}