7 March 2024
For the 16th consecutive month, China’s central bank, the People’s Bank of China, has continued to increase its gold reserves, adding approximately 390,000 troy ounces in February. This persistent acquisition spree has played a significant role in propelling gold prices to unprecedented heights. As of the latest data, China’s total gold reserves now amount to roughly 72.58 million troy ounces, or about 2,257 tons, underscoring the nation’s strategic move to bolster its financial stability and diversify its asset base amidst global economic fluctuations.