China’s Gold Reserves Rose By 15 Tonnes in January

China continue stockpiling gold.

The People’s Bank of China (PBoC) announced another 15 tonnes gold purchase in January, the third consecutive monthly increase.

This follows the 32 tonnes of gold added in November, the first officially recorded increase since September 2019, and the 30 tonnes bought in December.

China’s gold reserves rose to 65.12 million ounces at the end of January, up 480,000 ounces from the end of December 2022, data from the State Administration of Foreign Exchange showed Tuesday.

China’s foreign exchange reserves rose to 3.1845 trillion U.S. dollars at the end of January, up 1.82% from a month earlier, according to the data.