China adds 20 tonnes of gold in July, largest purchase since 2023
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The Chinese central bank intensified its gold purchases, incorporating the largest number of ingots into its reserves since October 2023.
China Makes Largest Gold Purchase Since 2023 as Bullion's Price Surges 8%
China made its largest monthly gold purchase in nearly three years and continues a massive accumulation streak, while other central banks have refocused on the precious metal. This is among the reasons behind the asset’s price resurgence over the past week, in which it gained 8% from bottom to top. China Buys Big Data provided by The Kobeissi Letter shows that the People’s Bank of China (PBOC) added approximately 640,000 troy ounces, or roughly …
China adds 20 tonnes of gold in July, largest purchase since 2023
China's gold accumulation strategy may drive global gold prices up, reflecting economic caution and impacting global financial markets. The post China adds 20 tonnes of gold in July, largest purchase since 2023 appeared first on Crypto Briefing.
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