China and Russia Increase Gold Reserves as Dollar Share Falls

China has added 2.322 tonnes of gold to its official reserves, marking 18 consecutive months of purchases and accounting for about 9 % of its total reserves. The People's Bank of China added eight tonnes in April, the largest monthly increase since late 2024. Russia holds 2.30475 tonnes of gold, using the metal to safeguard liquidity amid Western sanctions and to support its economy.

The share of the US dollar in global official foreign‑exchange reserves fell to 56.77 % in the fourth quarter of 2025, the lowest level in decades. Gold’s share rose to 27 %, surpassing US Treasuries (22 %) as the leading reserve asset, signalling growing distrust of the dollar‑based system and highlighting gold’s role as a geopolitical shield.