China buys gold for 24th straight month, reserves rise
In short
China bought gold for the 24th month in a row, and its reserves rose to 78.3 million ounces.
This shows Beijing is still building its gold holdings, even though the dollar value of those reserves fell.
What the reporting says
China bought gold for a 24th straight month, lifting its reserves to 78.3 million ounces. The latest increase extends Beijing’s sustained accumulation of the precious metal, even as the reported dollar value of its reserves declined.
Why it matters
China added gold to its reserves for a 24th consecutive month, taking holdings to 78.3 million ounces. The BusinessLine summary says this continues Beijing’s steady accumulation even as the reported dollar value of the reserves fell.