China's Central Bank Extends Gold Buying Streak to 22 Months

MacroCommodity
โดย GuruFocus·CN·Read original
Summary · why it matters

The People's Bank of China added approximately 20.2 tonnes of bullion in August, its largest monthly purchase since October 2023, extending its gold-buying streak to 22 consecutive months. The central bank's reserves rose to 76.73 million ounces, while China's total foreign-exchange reserves climbed to $3.4383 trillion, up $19.5 billion from July. This persistent buying signals strategic diversification rather than price sensitivity, providing structural support for gold prices. However, gold remains sensitive to real interest rates, the dollar, and other factors, so the purchase is not a guarantee of continuous price increases.

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