China PBOC Buys Gold for 17th Month as Prices Hit Record
- China’s gold reserve rose to 72.74 million troy ounces: data
- Gold hits recordson rate cut expectations, central bank buying
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China’s central bank purchased gold for its reserves for a 17th straight month in March, extending a buying spree that has helped the precious metal surge to a record.
Bullion held by the People’s Bank of China rose 0.2% to 72.74 million troy ounces last month, according to official data released Sunday. It’s the smallest increase in the run of monthly purchases that began in November 2022.