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China's central bank keeps buying gold as reserves grow for eighth straight month
By Sybilla Gross
Bloomberg News
Monday, July 7, 2025
China added to its official gold reserves for an eighth straight month in June, as prices of the precious metal traded near a record high.
Bullion held by the People's Bank of China rose by 70,000 troy ounces last month, according to data released today. Its gold reserves have climbed by 1.1 million troy ounces -- or about 34.2 tons -- since the current run of purchases began in November last year.
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Gold has climbed more than a quarter year to date, underpinned by robust demand from global central banks, as well as safe-haven flows amid an escalating conflict in the Middle East and President Donald Trump's aggressive economic and trade agendas. ...
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