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The Bank of China had increased its gold reserves from 1842.6 tons to 1,852 tons in December 2018. This increase represents the first major purchase of gold by the Bank of China since 2016. And there appears to be a purpose for the renewed interest in gold.
While the U.S. Federal Reserve Bank has attempted to keep gold prices low in an effort to preserve world dominance of the U.S. dollar, other countries have taken advantage by accumulating more precious metal at bargain prices.
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