Gold Slid Over 6% in September and China Bought More of It Than in Any Month Since 2023
China’s central bank added 740,000 ounces of gold to its reserves in September, its largest monthly purchase since October 2023. The buying came as gold fell over 6%. The People’s Bank of China (PBOC) lifted its holdings to 77.47 million fine troy ounces from 76.73 million in August. September also marked its 23rd straight month
Our Summary:China's central bank added 740,000 ounces of gold to its reserves in September, its largest monthly purchase since October 2023, as gold fell over 6%. The move marked the seventh straight month of larger additions, and the country's gold holdings now stand at 77.47 million fine troy ounces. China's gold buying has grown every month since March, and the country is now the second-largest gold buyer in the world, behind Poland.