Data from the People's Bank of China / State Administration of Foreign Exchange on Sunday shows that China increased its gold reserves for the sixth consecutive month in April to 66.76 million ounces (1,893 tons)
- gold reserves +260,000 ounces month-on-month
China has purchased 4.1 million ounces of gold since November 2022, a huge 10 month buying spree.
The wider move is that central banks globally have continued to buy gold in Q1 this year, adding 228 tons to global reserves, up 176 percent year-on-year (this is via data from the World Gold Council (WGC) released on Friday).
