✉news BusinessBanking first seen 2 d ago, last 2 d ago, peak #29
China's central bank buys gold for 23rd straight month
Original: China's central bank adds to gold reserves for twenty-third consecutive month
The People's Bank of China has increased its gold reserves for the twenty-third consecutive month, extending one of the longest sustained buying streaks by any major central bank. The continued accumulation is being read as part of a broader effort by Beijing to diversify away from the US dollar and hedge against geopolitical and financial risks. Analysts say the steady purchases have provided underlying support for global gold prices.
Why now: Ongoing central bank gold buying is fueling debate about de-dollarisation and its support for record-high gold prices.
People's Bank of ChinaChinagold
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