China Boosts Gold Reserves as BRICS Summit Avoids Common Currency

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China has trimmed its U.S. Treasury holdings to around $633 billion by June 2026, an 18-year low, while building gold reserves now valued at about $305 billion after over 20 months of purchases.

At the September 12-13 BRICS summit in New Delhi, Xi spoke of a 'Golden Decade' under China's presidency and advances like the BRICS Pay system to expand yuan use, but India clarified no unified currency is planned, focusing instead on local-currency trade to cut costs.

• The New Delhi Declaration emphasized payment connectivity and trade cooperation without a single-currency path, reflecting gradual diversification rather than rapid global shifts.

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China Boosts Gold Reserves as BRICS Summit Avoids Common Currency

Stern Drew

@SternDrewCrypto

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14h

China Is Officially Moving Onto A New Gold Standard At today’s BRICS summit in India, Xi Jinping announced China will take the presidency and open a third “GOLDEN DECADE.” That’s not poetry. China has stacked gold for 22 straight months. Hong Kong just stood up a

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Lord Belgrave

@LordBelgrave

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Sep 11