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China's gold reserves continue to grow in February

Section: Daily Dispatches

The news here isn't the tiny increase in China's gold reserves but that the People's Bank of China has announced increases for three months straight after years of reporting no change.

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China's Gold Reserves Continue to Grow in February

From Xinhua News Agency, Beijing
Thursday, March 7, 2019

BEIJING -- China increased its gold reserves for a third straight month in February, data from the central bank showed.

... Dispatch continues below ...


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The country's gold reserves amounted to 60.26 million ounces by the end of last month, a slight growth from January, according to the People's Bank of China.

The gold reserves were equivalent to around $79.5 billion, edging up from 79.3 billion dollars in the previous month, the PBOC said.

The latest gold purchase by the world's second-largest economy came at a time when global central banks are hoarding the precious metal. ...

... For the remainder of the report:

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