China continues to add to its gold reserves, with reports confirming that the country stockpiled an additional 18 tons of gold in March, bringing its total national reserve to 2,068 tons. This information was released by the People’s Bank of China (PBOC), the country’s central bank, which regularly updates its gold reserve data.

China has been steadily increasing its gold holdings over the past several years as part of its diversification strategy to reduce reliance on the US dollar and other foreign currencies. The country has been actively accumulating gold to safeguard against economic uncertainties and enhance its financial resilience.

The latest addition of 18 tons of gold to China’s national reserve is seen as a strategic move to further strengthen its position as one of the world’s largest holders of gold. China’s gold stockpiling activity has been closely watched by global markets, as it has the potential to impact gold prices and international gold market dynamics.

Chinese officials have stated that the country’s gold accumulation is a long-term strategy and reflects its confidence in the value and stability of gold as a store of wealth. The increased gold reserves are expected to provide a cushion against potential economic risks and geopolitical uncertainties, as well as support the country’s efforts to internationalize its currency, the yuan.

However, the exact details of China’s gold acquisition strategy, including the sources and methods of its gold purchases, remain undisclosed, as the country does not regularly disclose real-time updates on its gold holdings. Nevertheless, China’s gold accumulation continues to be closely monitored by global investors and economists for potential implications on the global financial landscape.

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