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According to sources, China is positioning itself as the custodian of foreign sovereign gold reserves to strengthen its influence in the global gold and silver markets. The People's Bank of China is cooperating with central banks of friendly countries to purchase and store gold within China through the Shanghai Gold Exchange. This move has sparked interest from at least one Southeast Asian country in recent months. This strategy will enhance Beijing's role in the global financial system and further its goal of reducing dependency on the US dollar and Western financial centers such as the US, UK, and Switzerland. As countries increasingly buy gold as a hedge against geopolitical risks, the People's Bank of China aims to provide a safe haven for this important economic cushion. The People's Bank of China and the Shanghai Gold Exchange did not respond to requests for comment (Bloomberg).