Gold Prices Surge as China Resumes Purchases Amid Middle East Turmoil

Reported 3 days ago

Gold prices have reached a two-week high following the People's Bank of China's announcement that it purchased 160,000 fine troy ounces of gold in November, marking its first buy in seven months. This, combined with escalating tensions in Syria following the regime's collapse, has heightened demand for safe-haven assets. Despite the relatively small volume of purchases, the move indicates China's ongoing strategy to diversify its reserves in response to economic uncertainties.

Source: YAHOO

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