China is dumping U.S. Treasuries and stockpiling gold.
China’s gold reserves have surged to a record 74.1 million ounces.
At the same time, China’s holdings of U.S. Treasuries have fallen to $682.6 billion, the lowest level in 18 years.
Since peaking in 2013, China has reduced its Treasury exposure by more than $600 billion—while its gold reserves have doubled.
The message is clear: China is deliberately shifting away from dollar-denominated assets and toward hard assets.
This trend is likely to accelerate.
Expect higher gold prices.