PBOC Adds 320,000 Ounces of Gold, Extending Buying Streak to 19 Months
Updated
Updated · Bloomberg · Jun 7
PBOC Adds 320,000 Ounces of Gold, Extending Buying Streak to 19 Months
3 articles · Updated · Bloomberg · Jun 7
Summary
China’s central bank increased its gold holdings by 320,000 troy ounces in May, stretching its run of monthly purchases to 19 straight months.
Weak bullion prices helped drive the latest buying, with the People’s Bank of China continuing to accumulate reserves while gold remained under pressure.
The 19-month streak is the longest since at least 2015, when the PBOC began publishing more regular updates on its gold reserves.