China's Gold Reserves Surge to Three-Year High

China's central bank has continued its gold-buying streak, increasing its official gold reserves for the 22nd consecutive month in August.

The country's gold holdings rose to 76.73 million ounces by the end of August, marking the biggest monthly increment since October 2023, when China added 740,000 ounces.

This latest addition comes on top of a $19.5 billion increase in foreign exchange reserves, which stood at $3.4383 trillion at the end of August.