china, gold, gold reserves, reserve currency, russia

The Ultimate Preppers: Why China and Russia Stockpile Gold

Russia and China are furiously building up their gold reserves. Russia has bought 106 tons of gold this year and the People’s Bank of China has similarly accumulated about 100 tons. Russia’s gold reserves currently stand at about 2,200 tons, while Chinese reserves are pegged at 1,950. De-dollarization through building up gold reserves According to ...

October 17, 2019

Max Lu

Russia and China Buy More Gold as They Cut Down on Dollar Reserves

In a bid to reduce dependence on the U.S. dollar as a trade currency and reserve, Russia and China have been buying up gold furiously over the past several months. Both nations have also proposed bilateral trade in their respective currencies. Burgeoning gold reserves According to the World Gold Council, the Russian central bank bought ...

June 17, 2019

Jack Roberts