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Gold soars, but China keeps buying: People's Bank of China adds 650,000 ounces in August, biggest monthly increase in nearly 3 years, extends buying streak to 22 months
Gold prices are driven not just by the gold individuals buy or sell. In fact, one of the biggest factors that drives gold prices is the trendline of central banks buying or selling gold.
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cryptobriefing.com
China adds 650,000 ounces of gold to reserves in August, marking 22 straight months of buying
China's central bank added 650,000 ounces of gold in August, its 22nd straight month of buying, pushing reserves to 76.73 million ounces worth
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caixinglobal.com
China Extends Gold Buying Streak to 22nd Month
Central bank’s 650,000-ounce addition in August was the largest single-month purchase since late 2023
