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"China's official gold reserves rose to 69.62 million ounces at the end of August, up from 68.69 million ounces a month earlier, marking the tenth consecutive month of incline." In those ten months China's gold holding were up 11%.
https://t.co/IzlBD20Dew

— Michael Pettis (@michaelxpettis) September 8, 2023

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This implies that the value of gold now accounts for roughly 4% of China's official reserves (3% if we include "hidden" reserves). On average, gold represents 17% of official reserves for advanced economies and 7% for developing economies.

— Michael Pettis (@michaelxpettis) September 8, 2023

Central banks added 55 tonnes to global gold reserves in July.

Another month of buying. pic.twitter.com/7uPGGiqAZD

— Gold Telegraph ⚡ (@GoldTelegraph_) September 6, 2023

Inflation worries fuel Japanese rush to buy gold | Financial Times https://t.co/cufcElHdbb

— Frank Giustra (@Frank_Giustra) September 6, 2023

Saudi Arabia is turning to metals 🇸🇦

– They are investing in mining assets all over the world

– The countries mineral endowment is worth an estimated $1.3 trillion

– The Kingdom is considering establishing gold refineries in the country

Long article will be released soon. pic.twitter.com/19Hg75DPbk

— Gold Telegraph ⚡ (@GoldTelegraph_) September 8, 2023