China added to its gold reserves for a 10th straight month, extending a push to bolster its hefty stockpile as it tries to diversify away from the US dollar.

After months of debate about various currency and commodity baskets, a Russia- and China-led consortium has apparently settled on using gold as the basis of a planned new international currency system separate from the US dollar and euro.

China raised its gold reserves for a ninth straight month in July. Bullion held by the People’s Bank of China rose by 740,000 troy ounces, the central bank said on Monday.

On Friday, the Russian state-controlled channel RT confirmed that Brazil, Russia, India, China and South Africa, also known as the BRICS countries, will introduce a new trading currency backed by gold.

According to Zoltan Pozsar, we are facing a multipolar world in which the dollar's status as reserve currency will be challenged by the renminbi and the euro. Gold is likely to play a major role in the new world monetary order.

The BRICS+ countries will announce the creation of a new currency at its annual leaders’ summit conference on August 22–24. It appears likely that the new BRICS+ currency will be linked to a weight of gold. This will be the biggest upheaval in international finance since 1971. It’s taking direct...

In an unabated buying spree, China has continued to expand its gold reserves for a seventh consecutive month, reinforcing the sustained global demand for the precious metal among central banks.

Following a historical high level of central bank gold buying, gold continues to be viewed favourably by central banks. 24% of central banks intend to increase their holding reserves in the next 12 months.

China's gold reserves rose by 8.09 tonnes to 2,076.47 tonnes at the end of April, marking the sixth consecutive monthly increase in gold holdings.

The Reserve Bank of Zimbabwe (RBZ) is set to introduce a gold-backed digital currency to be used as legal tender for transacting in the country as part of interventions to stabilise the local currency.

Economic and (geo)political developments in recent weeks and months have indeed been exciting. In many areas, it looks as if we are heading for a showdown, for a lasting, formative change. The following five charts present the multi-faceted showdowns that are happening right now before our eyes.

China’s February net gold imports via Hong Kong nearly tripled from the previous month, surging on the back of a rebound in demand post Lunar New Year celebrations and a drop in bullion prices through the month.

The former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader should get multiyear prison terms after they were convicted of spoofing the market for years, the US government said in a court filing.

A powerful endorsement for gold as money came this week from a member of the Executive Board of Germany's Bundesbank, Joachim Wuermeling, who spoke at the press conference in Frankfurt presenting the Bundesbank's annual report for 2022.

Central bank gold demand in 2023 picked up from where it left off in 2022. In January, central banks collectively added a net 31 tonnes (t) to global gold reserves (+16% m-o-m). This was also comfortably within the 20-60t range of reported purchases which has been in place over the last 10 consec...

Russia's finance ministry said will reset the share of euro in its National Wealth Fund (NWF) starting from this year, leaving only gold, Chinese yuan and rubles.

The People’s Bank of China (PBoC) announced another 15 tonnes gold purchase in January, the third consecutive monthly increase.

Central banks bought about 400 metric tons of gold in the third quarter last year. Purchases of gold have reached a level not seen since 1967. Gold is proving to be the stability factor that many central banks require.

The first consignment of the "Gold for Oil Policy" by the government to stem the increasing depreciation of the cedi against the major currencies has arrived at the Tema Port and discharged into the receptacles of Bulk Oil Storage and Transportation Company (BOST).

Willem Middelkoop returns to the show, and we dive into the current state of the global economy and how it is undergoing a "BIG RESET." One significant sign of this is China's recent announcement of increased gold purchases.