China’s central bank increased its gold reserves for the third consecutive month in January, adding 0.16 million troy ounces despite record-high prices. This move signals the PBOC’s commitment to diversifying its reserves amid global economic and geopolitical uncertainties.
Analysts suggest political factors, including Donald Trump’s election, may have influenced the decision. Meanwhile, domestic gold jewelry demand remains weak due to China’s slow economic growth.
China’s central bank buys more gold as prices hit record
Feb 12, 2025
Article from Bloomberg by Yihui Xie
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