China’s Central Bank Continues Gold Purchases for Tenth Consecutive Month
TL;DR Summary
China’s central bank has increased its gold holdings for the 10th consecutive month as part of a strategy to diversify its reserves away from US dollars, with gold prices reaching new highs influenced by US rate cut bets and geopolitical risks.
Topics:business#business#china#gold-buying#gold-reserves#peoples-bank-of-china#reserve-diversification
- China’s Central Bank Extends Gold Buying Spree to 10 Months Yahoo Finance
- China’s Forex Reserves Rise in August The Wall Street Journal
- How much gold will be enough to diversify China's reserves? Reuters
- China adds gold for 10th month as bullion surges past $3,500 an ounce investingLive
- China’s central bank buys gold for 10th month in a row Mining.com
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