China is leading a ‘voracious’ gold-buying spree as central banks try to shrink dollar reserves

These are the best gold IRAs of 2023.Filograph/Getty Images

  • Central banks are buying a lot of gold, and China is leading the pack, the World Gold Council said.

  • The move is part of a broad shift away from dollar reserves but is also stoked by inflation and economic uncertainty.

  • The annual total of gold purchases by central could surpass a record set last year, the Council said.

Central banks around the world are on a gold-buying spree, and China is outpacing them all.

The bullion binge comes as…

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