Adviser says China should buy gold with reserves

China should use its foreign-currency reserves to buy gold and oil as a hedge to guard against the risk of a sudden drop in the U.S. dollar, according to a member of the central bank's advisory board.

``China has more than enough foreign-exchange reserves,'' said Yu Yongding, who advises on policy as a committee member of the People's Bank of China. ``While they cannot be reduced sharply all at once, China has decided to take measures to curb their growth rate and diversify investment of its

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