China boosted gold reserves in September by nearly 1%


By A. Ananthalakshmi
Friday, October 16, 2015

China increased its gold holdings by nearly 1 percent in September even as total foreign exchange reserves dipped, central bank data showed today.

Gold reserves rose by 480,000 fine troy ounces, or 14.9 tonnes, to 54.93 million ounces, or 1,708.5 tonnes at the end of September, the People's Bank of China said.

The central bank added 16.2 tonnes in August and nearly 19 tonnes in July.

"Their buying has been pretty consistent," said Victor Thianpiriya, commodity strategist at ANZ. "It's clear that they consider gold to be an important part of their holdings. So it won't surprise me if they continue to add to reserves."...

... For the remainder of the report:


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