China’s PBOC Keeps Buying Gold as Reserves Grow For Eighth Month

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 on Monday. 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.