China ups gold reserves by largest amount in nearly three years
Monthly increase is biggest since 2023 as PBoC’s holdings hit 76.7m troy ounces
The People’s Bank of China in August added more gold to its reserves than in any month for nearly three years, according to data published on September 7, as the central bank entered its 22nd consecutive month of bullion buying.
PBoC data showed the bank upped its gold holdings by 650,000 troy ounces in August when compared with the end of July, bringing its holdings to a record high of 76.73 million troy ounces. The August figures marked the bank’s biggest monthly increase since October 2023
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