China secretly hoarding gold to ditch dollar – media ...News

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China secretly hoarding gold to ditch dollar – media
Countries are expanding their bullion holdings after the West froze Russian reserves, analysts say Central banks across the world have stepped up their gold purchases after Russia’s overseas assets were frozen as part of sanctions this year, according to strategists cited by the Japanese business daily Nikkei Asia. Some $300 billion of Russian foreign reserves, and billions more from individuals and businesses, have reportedly been frozen by the US and its allies. The Kremlin has repeatedly slammed the seizures as “theft.”  Gold purchases by regulators more than quadrupled in the July-September period and totaled

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