China reveals nearly 60% gold reserves’ growth in 6yrs, gets into 5 top holders

China reveals nearly 60% gold reserves’ growth in 6yrs, gets into 5 top holders

China’s gold holdings grew by 604 tons to 1,658 tons since 2009, according to the data from People’s Bank of China revealed on Friday. The country thus overtook Russia to become the fifth largest holder of gold in the world.

The information has been disclosed after a six-year delay. China’s central bank has reported changes to its gold reserve levels only four times over the last 15 years, according to analysts at UBS.

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