mo4ch:>In gold we trust: China boosts bullion reserves as part of Beijing’s anti-dollar push | Mo4ch News

The People’s Bank of China (PBOC) increased its gold holdings for the fourth straight month in March, bringing total reserves to 60.62 million ounces. The move is part of China’s strategy to shift away from the US dollar.Last month’s inflow totaled 11.2 tons of bullion, following the addition of 9.95 tons in February, 11.8 tons in January and 9.95 tons in December. PBOC said March reserves were equivalent to around $78.5 billion, down from $79.5 billion in the previous month.Also on rt.comAre Russia, China & Turkey bringing back the gold standard? RT’s Keiser Report finds outBefore December, the Chinese central bank had not reported an increase in gold reserves for more than two years, and the official figures remained unchanged from October 2016 to November 2018. Analysts say Beijing is trying “to diversify its reserves” away from the greenback.READ MORE: Russia adds $2.4 billion to its foreign exchange reserves in one weekThe increased purchasing by Asia’s top economy comes at a…