Commodities
China's Central Bank Gold Buys Continue with Largest Monthly Gain Since October 2023
China's central bank continues to diversify its reserve assets by buying gold, adding 20.2 metric tons of gold in August.
This marks a sixth consecutive month of purchases and extends the bank's streak of adding to its reserves for 22 straight months.
The purchase brought China's total gold holdings to 76.73 million ounces, with the reported value surging to US$350.08 billion at the end of August due in part to rising bullion prices.