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China's central bank adds gold for ninth straight month
Or announces an addition anyway. No official gold data is very complete or reliable.
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By Sybilla Gross
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, August 7, 2023
China raised its gold reserves for a ninth straight month in July as central bank purchases continue to underpin prices of the precious metal.
Bullion held by the People's Bank of China rose by 740,000 troy ounces, the central bank said today. That's equivalent to about 23 tons. Total stockpiles now sit at 2,137 tons, with around 188 tons added in a run of purchases that began in November.
... Dispatch continues below ...
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China has led central bank buying in recent months as it continues to diversify its reserves. That has helped keep prices buoyant despite rising interest rates around the world, which typically sap demand for non-interest bearing bullion. ...
... For the remainder of the report:
https://finance.yahoo.com/news/china-central-bank-adds-more-081837343.html
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