However, the United Kingdom increased its holdings by US$55 billion and Belgium by US$58.9 billion during the same period to June.
China has increased its gold reserves by 6.05 million ounces in the past year, or 9.7 per cent, to 68.69 million ounces at the end of July.
Interesting change in China’s holdings, but not surprising. China and the US have been trying to separate their economies for a while now. Having them so intertwined has been a problem on both sides.