According to the World Gold Council’s Central Bank Gold Reserves Survey 2025, the banks have accumulated more than 1,000 tonnes of gold in each of the past three years – a sharp rise from the 600-odd tonne annual average over the previous decade. The purchases have sparked debate that the world’s second-largest economy is seeking to reduce its reliance on the greenback, while using gold’s stability and recent price rally to position the renminbi as a more credible reserve currency backed by the precious metal. Optimism around the launch of the Bitcoin exchange-traded funds and pro-crypto policies in the US pushed its price to a record high of more than US$120,000 in October, but it has since fallen by nearly 30 per cent and was trading around US$87,000 at the time of writing.
Author: Timothy Goh
Published at: 2025-12-24 21:05:43
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