✉news BusinessBanking first seen 1 d ago, last 12 h ago, peak #3
China's Central Bank Adds Gold in September as Bullion Weakens
Original: China’s Central Bank Adds Gold in September as Bullion Weakens
The People's Bank of China reported another increase in its gold reserves for September, continuing its extended buying streak even as gold prices soften. The purchases signal Beijing's ongoing effort to diversify its reserves away from the dollar, and traders are watching whether continued central bank demand can support bullion through the price pullback.
Why now: China's central bank buying gold during a price dip raises questions about its reserve strategy and gold's outlook.
People's Bank of ChinaChinagold
Evidence
- China’s Central Bank Adds Gold in September as Bullion Weakens · Yahoo Finance UK
- China’s Central Bank Adds Gold in September as Bullion Weakens · Bloomberg.com
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