The Chinese government has announced that the country will be selling its gold reserves to the public in 2019.
The move is the latest step in the country’s efforts to regain control of its gold holdings after years of unrest following the 2013 financial crisis.
The government has set a price of 4,000 yuan ($8,000) for each ounce of gold, but a price increase in 2020 could push it even higher.
A Reuters poll of Chinese analysts found that nearly two-thirds said the government should allow the public to sell its gold.
In September, the country approved a $50 billion plan to boost the value of its currency.
“Gold is not a safe investment and we should be cautious about it,” wrote Wu Shui, a gold analyst at Shanghai-based brokerage Cochin-based Huobi Investment Group.
“There’s still a risk of gold prices going down.”
China’s gold reserves rose to 7.3 tons in March from 4.7 tons in February.
On Friday, the People’s Bank of China said it had increased the amount of gold it held to 5.8 tons in order to maintain stability.
The government is selling a mix of gold and silver to the general public in exchange for government bonds and a slew of other assets.