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The People’s Bank of China added to its bullion stockpile for a ninth consecutive month in July, lifting official gold holdings to 73.96 million fine troy ounces, or roughly 2,100–2,300 tonnes. The latest monthly increase of about 23 tonnes took the market value of the hoard to just under $244 billion, marginally higher than June’s $243 billion and equivalent to about 4 percent of the country’s total reserves. China’s overall foreign-exchange reserves slipped to $3.292 trillion from $3.317 trillion the previous month, according to central-bank data released Thursday. The drawdown came despite a steady accumulation of gold, which Beijing has been adding to diversify reserve assets amid a fragile yuan and persistent geopolitical tensions.
The People's Bank of China (PBC), China's central bank, continued to increase its gold holdings for the ninth consecutive month, according to data released on Thursday. China's gold reserves stood at 73.96 million ounces (about 2,300.41 tons) at the end of July, an increase of https://t.co/J272ilZg75
China’s gold reserves rise for the ninth consecutive month The PBoC reported another 23t rise in its gold reserves in July, lifting the total to 2,136t and marking the ninth consecutive monthly increase. Gold accounts for 4% of the country’s foreign exchange reserves, marginally https://t.co/XJGaEzkNJt
🇨🇳#PBOC INCREASED GOLD RESERVES IN A 9-MONTH STREAK #China's #Gold reserves increased to 73.96 million ounces(Prev. 73.90 M), and the value of gold reserves was $244 bln vs the previous $243 bln. End-July forex reserves are $3.2923 trillion, $32.16 billion more than the previous https://t.co/ZGQz2ZmLV3
