China Dumps US Treasuries for Third Straight Month While Stockpiling $247,876,656,239 in Gold: Report

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China has lowered its US Treasury holdings for the third month in a row, opting to hoard large amounts of gold bullion instead. According to the latest data from the US Treasury, China lowered its T-Bill holdings by $900 million, from $757.2 billion in April to $756.3 billion in the month of May. The sell-off marks China’s third straight shedding of Treasuries since February, when the Asian powerhouse held $784.3 billion worth of US bonds. Meanwhile, reports that China is covertly buying much mo...