While President Donald Trump aims to restore U.S. economic dominance on the global stage, China is quietly making a powerful statement of its own—stacking gold at a record pace and chipping away at the U.S. dollar’s supremacy.
China’s central bank extended its gold-buying streak to a 10th consecutive month in August, fueling a broader rally in the precious metal that has pushed prices to historic highs.
The People’s Bank of China added 60,000 ounces last month, bringing its total gold holdings to 74.02 million ounces by the end of August, according to data published by the country’s State Administration of Foreign Exchange.
In dollar terms, that lifted the country’s official gold …