China has never held so much gold: China’s gold reserves surged +15.7% MoM in January, to a record $369.6 billion. This marks the 8th consecutive monthly increase. Since October 2022, China’s gold reserves have risen +$266.9 billion, or +260%. This comes as the country’s total gold holdings rose to a record 2,308 tonnes last month. The People's Bank of China has now acquired gold for 15 consecutive months. China’s gold rush is unprecedented.(The Kobeissi Letter)