China's Central Bank Boosts Gold Reserves to 74.19 Million Ounces in January

The People's Bank of China continued its gold accumulation strategy in January, with holdings reaching 74.19 million fine troy ounces. The value of China's gold reserves surged to $369.58 billion from $319.45 billion in December, reflecting the strong rally in gold prices. Gold now accounts for approximately 9% of China's total reserves as part of its diversification strategy away from US dollar-denominated assets. This move is part of China's ongoing de-dollarization efforts and broader strategy to reduce dependence on the US dollar while strengthening its position in global markets. Gold prices are currently trading at around $5,000 per ounce, up 17% year-to-date, supported by strong central bank demand and global commodities momentum driven by AI infrastructure buildout.