Deepin Moments: End the Dollar’s Hegemony, China Buys a lot of Gold from Russia

Deepin Moments
Nov 22, 2022

“Given that Russia has been hit by Western currency sanctions, China and some other countries must reduce their reliance on the dollar as soon as possible,” Nikkei Asia quoted several analysts as saying.

According to a report released in November by industry group the World Gold Council, central banks bought a net 399.3 tons of gold from July to September this year, more than four times more than in the same period a year earlier. The latest buying is up sharply from 186 tons in the previous quarter and 87.7 tons in the first quarter, while year-to-date buying alone exceeds any full-year performance since 1967.


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