China gold reserves rise most since 2023 even as bullion tumbles
9 Articles
9 Articles
China gold reserves rise most since 2023 even as bullion tumbles
The People's Bank of China (PBOC) capitalized on the sharp decline in global markets by making its largest gold purchase in recent years. While prices are being pressured by the Fed's hawkish stance, the tendency of central banks, especially China, to increase their reserves remains at record levels.
June sees China’s largest gold purchase in 20 months
China’s central bank added 480,000 ounces of gold to its reserves in June, its largest monthly purchase in a 20-month buying streak, reports Caixin. This came as global bullion prices slid from about $4,540 an ounce to around $4,000. China’s official gold reserves rose to 75.4 million ounces at the end of June, according to data […]
China's central bank's gold reserves rose by the most in more than two and a half years in June, data released by the country's central bank showed on Tuesday. The bank bought the yellow metal for the 20th consecutive month, with reserves rising to 75.44 million troy ounces (1 ounce = 31.1...
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