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Commodities

China Bolsters Gold Reserves with Record Monthly Purchase

Guavy AI Editorial Team
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Gold
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The People's Bank of China has made its largest monthly gold purchase since October 2023, adding 20.2 metric tonnes to its reserves in August.

This move marks a continuation of a 22-month streak of gold accumulation for the country and brings its total official gold holdings to approximately 2,387 tonnes.

The value of China's gold reserves rose significantly by about $43.7 billion in August alone, reaching $350.08 billion.

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