China's Central Bank Buys the Most Gold Since October 2023
7 Articles
7 Articles
China's Central Bank Buys the Most Gold Since October 2023
Roughly 20.2 metric tons of gold flowed into China’s reserves in August, extending Beijing’s steady effort to shift its holdings away from dollar assets and keeping alive one of the market’s most durable sources of demand. That 650,000 ounce addition pushed the People’s Bank of China’s holdings to 76.73 million ounces, up from 76.08 million […] The post China’s Central Bank Buys the Most Gold Since October 2023 appeared first on the deep dive.
The Central Bank of China increased its pace of gold purchases for the sixth consecutive month in August, adding 650,000 ounces to its reserves, equivalent to about 20.2 tons, in the largest monthly increase since October 2023. The PBOC's holdings rose to 76.73 million ounces by the end of August, compared to 76.08 million ounces in July, extending China's procurement chain to 22 [...] China's central article boosting its sixth month gold purcha…
China's foreign exchange reserves rose above market expectations in August, while the country's central bank raised its gold holdings for the 22nd month in a row. According to the data of the State Currency Administration of China, foreign exchange...
According to ChainCatcher, China's gold reserves stood at 76.73 million ounces (approximately 2,386.57 tons) at the end of August, an increase of 650,000 ounces (approximately 20.22 tons) month-on-month. This marks the 22nd consecutive month that the People's Bank of China has increased its gold holdings.
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