China adds 650,000 ounces of gold to reserves in August, marking 22 straight months of buying

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China has recorded the largest increase in its gold reserves since 2023, accelerating purchases in August, even with the triggering of metal prices. The reserves of the People's Bank of China (PBoC) — one of the largest buyers of the official sector in the world — have grown 650 thousand ounces (about 18 tons), according to data released by the central bank on Monday. This movement extends the PBoC's purchases sequence to 22 months. Thus, the to…

finanzmarktwelt.de

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The central bank in China has massively bought gold over the last few weeks, despite significantly rising prices. A supporting factor in the market! The post China central bank bought 650,000 ounces of gold appeared first on financial marketwelt.de in August.

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In August, China increased its gold reserves by the most since 2023, accelerating purchases despite a strong rise in the price of the precious metal. Gold reserves of the People's Bank of China, one of the world's biggest buyers of the public sector, increased by 650,000 ounces, data released by the central bank showed on Monday. That's a series of...

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China's Central Bank accelerated the pace of gold purchases in August this year, buying 650,000 triple ounces of metal - its stock is now estimated at 76.73...