The People's Bank of China has increased its gold reserves for the 23rd consecutive month, reaching 2,409.59 tons by the end of September. China's gold accounts for 8% of its foreign reserves, while the global central bank average is 15%. Still a long way to go. This isn't allocation, it's catching up. China is building a global gold network, promoting gold trading priced in RMB, and enhancing the international status of the RMB. This is the real reason behind China's continuous gold accumulation. The U.S. is into Bitcoin, China is into gold.