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 Survey Shows U.S. Tech Stocks Perceived as New Inflation Hedge READ MORE Massive Student Debt Strike Amid Loan Repayment Challenges READ MORE Could Gold Hit $5000 in 2024? READ MORE U.S. GDP Surges 2.8% in Q2, Outpacing Expectations as Inflation Eases READ MORE Gundlach's Investment Strategy: Cash and Gold in a Volatile Market READ MORE Add a Comment Cancel replyYour email address will not be published.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