China cuts U.S. Treasuries to 2008 low as record gold reserves grow past 3,900 tons

In November, China reduced its U.S. Treasury holdings to $682.6 billion, the lowest level since the 2008 financial crisis, while foreign ownership of Treasuries climbed to a record $9.355 trillion. Over the same period, China confirmed more than 1,000 tons of new domestic gold resources in Hunan and additional reserves near Laizhou in Shandong, pushing that region's total above 3,900 tons. Other major buyers such as Japan, the UK, and Canada increased their U.S. debt exposure as China shifted further toward hard assets and equities.