Reported about 21 hours ago
The People's Bank of China has extended its gold buying initiative for a tenth consecutive month, increasing its reserves by 0.06 million troy ounces to a total of 74.02 million troy ounces. This strategic move aims to reduce reliance on US dollars, with the central bank accumulating 1.22 million troy ounces since beginning purchases in November. Meanwhile, rising gold prices have created a favorable market, attracting ongoing interest from central banks despite a global slowdown in gold accumulation.
Source: YAHOO