Trader Peter Brandt's Gold Shift Highlights China's Gold Buying Surge

Experienced trader Peter Brandt announced on X that he is considering selling part of his Bitcoin holdings to purchase gold, citing gold's stronger performance. Over the past month Bitcoin fell about 20% while gold slipped only 11.7%; year‑to‑date Bitcoin is down roughly 28% versus a 3.9% loss for gold.

In parallel, China’s central bank continued its gold accumulation, adding 480,000 ounces in June to bring total holdings to 75.44 million ounces – the highest monthly purchase since October 2023 and part of a 20‑month buying streak. The gold reserves are valued at about $303.7 billion, roughly 8.8% of China’s foreign‑exchange reserves. Officials view gold as a macro‑insurance against potential Western sanctions and a means to bolster the yuan’s credibility. By contrast, the United States is expanding its crypto reserves, holding 328,728 BTC valued at approximately $20.73 billion.