China’s gold hoard swells

TheStar Tue, Jul 09, 2019 08:30am - 4 years View Original






Love for gold: The People’s Bank of China raised reserves for a seventh month in June, adding 10.3 tonnes, following the inflow of almost 74 tonnes in the six months through May. — Bloomberg

Love for gold: The People’s Bank of China raised reserves for a seventh month in June, adding 10.3 tonnes, following the inflow of almost 74 tonnes in the six months through May. — Bloomberg

SINGAPORE: Central banks are going after gold in 2019, boosting holdings as economic growth slows, trade and geopolitical tensions rise, and some authorities seek to diversify their reserves away from the dollar.

The People’s Bank of China said yesterday it raised reserves for a seventh month in June, adding 10.3 tonnes, following the inflow of almost 74 tonnes in the six months through May.

Last week, Poland said it more than doubled its gold assets over this year and last, becoming the top holder in central Europe.

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