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China Boosts Gold Reserves by 0.9% in September, Data Show

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China announced another monthly increase in central bank gold holdings in September, raising them to 54.93 million troy ounces from 54.45 million ounces a month earlier, as it seeks to diversify its foreign exchange reserves.

The amount was almost the same as the 54.94 million ounces calculated by Bloomberg from the value of gold assets of $61.2 billion disclosed by the central bank on Oct. 7. The September addition was the equivalent of 15 metric tons and takes the hoard to about 1,709 tons.