China Central Bank Buys 480,000 Troy Ounces of Gold in June, Largest Acquisition Since 2023
The People’s Bank of China increased its gold reserves by 480,000 troy ounces in June, bringing total holdings to 75.44 million ounces. The purchase marks the central bank’s largest monthly acquisition since October 2023.
The addition extends the bank’s gold-buying streak to 20 months, the longest period of consecutive purchases since at least 2015. While the volume of bullion rose, the total market value of the reserves fell to $303.72 billion from $340.75 billion in May, reflecting price volatility in global bullion markets.
From the sources (5 posts)
@financialjuiceChina gold holdings $303.72 billion at end-June vs $340.75 billion at end-May: central bank
@financialjuiceChina gold holdings 75.44 million fine troy ounces end-June vs 74.96 million end-May: central bank
@financialjuiceChina's end-June forex reserves $3.416t; estimate $3.436t
@businessChina’s central bank bought more gold in June, extending the longest buying streak since at least 2015
@chigrlChina’s PBOC Buys Most Gold Since 2023 as Bullion Swings China’s central bank bought more gold in June, extending the longest buying streak since at least 2015 and underscoring a commitment to diversifying its reserves despite volatility i