China Buying Twice More Gold than Officially Reported Amid Surge in Central Bank Purchases

Sözcü

Lean Left

Factuality

Ownership

The People's Bank of China added 20.2 tons to its gold reserves in August, bringing its total holdings to 2,387 tons. This purchase marked the largest single-month increase since October 2023.

RayHaber

Factuality

Ownership

Noteworthy data came from the Chinese front in August, when gold posted one of the strongest monthly performances of the year. As investor interest in ETFs continues, the Bank of China has accelerated gold purchases and increased its reserves for the 22nd month in a row. In contrast, demand in the physical market did not advance at the same pace. 🚆

dunya.com

Factuality

Ownership

In August, when gold displayed one of its strongest monthly performances of the year, noteworthy data came from China. While investor interest in ETFs continued, the People's Bank of China accelerated its gold purchases and increased its reserves for the 22nd consecutive month. In contrast, demand in the physical market did not keep pace.