Global Market: China Gold Reserves Rise for 23rd Straight Month, Forex Reserves Fall
15 Articles
15 Articles
The Economic Times
Times of IndiaGlobal Market: China gold reserves rise for 23rd straight month, forex reserves fall
Chinas central bank raised its gold holdings for the 23rd consecutive month in September, underscoring its efforts to diversify reserves amid shifting global financial markets. However, the countrys foreign exchange reserves fell more than expected to $3.400 trillion, pressured by a stronger US dollar. The yuan strengthened 0.22% against the greenback during the month.
According to Bloomberg News, the Chinese Central Bank's gold stocks rose by 740,000 ounces in September, which, according to data reported today, marked the 23rd month in a row with increases. China's central bank, which is one of the largest buyers of gold worldwide, has made its purchases in recent months after [...] The post China Central Bank purchased 740,000 ounces of gold in September appeared first on financial marketwelt.de.
The Central Bank of China added more gold to its reserves in September, continuing a series of purchases close to two years, despite declining precious metal prices with rising inflationary pressures and rising interest rates. The Bank of the Chinese People's gold holdings rose by about 740,000 ounces in September, registering continuous purchases for the twenty-third consecutive month, according to statements issued by [...] China continues to …
China added even more gold to its reserves last month, extending a buying spree that has been going on for almost two years.
China's central bank continued to increase its gold reserves in September, expanding by
(Dan Tri Newspaper) - Despite the volatile precious metals market, the People's Bank of China has just recorded its 23rd consecutive month of net gold purchases, raising its gold holdings to a record high to optimize the nation's assets.
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