China's Central Bank Maintains Gold Holdings Amid High Prices China’s central bank, the People’s Bank of China (PBOC), refrained from purchasing gold for the third consecutive month in July, maintaining its gold reserves at 72.8 million fine troy ounces. Despite the unchanged quantity, the value of these reserves increased to $176.64 billion due to rising gold prices, which have surged 16% this year. Analysts suggest that the PBOC’s pause is due to elevated gold prices, and purchases may resume if prices decline. The PBOC remains a significant player in the gold market, having been the largest buyer in 2023, but its current strategy reflects caution amid high prices. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fear Index' Doubles Amid Worldwide Stock Market Rout READ MORE Royal Mint Tackles E-Waste Crisis with Sustainable Gold Recovery Facility READ MORE Economist Warns of Imminent Recession as 19 States Show Rising Unemployment READ MORE Treasury Yields Dip Ahead of Fed Rate Decision READ MORE BREAKING: Biden's $5 BILLION Gift Exposed READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment