Chinese central bank gold buying – On a need to know basis
By GCRU Gold News on Monday, November 11 2019, 21:40 - Permalink
After announcing monthly gold purchases for ten straight months between December 2018 and September 2019, the Chinese central bank, the People’s Bank of China (PBoC), has paused buying now for its strategic gold reserves.
Given the pause or halt last month in China’s gold accumulation, the strategic gold reserves of the People’s Republic of China (PRC) now remain unchanged at 1948 tonnes for October. But for ten months back-to-back between December and September, the Chinese central bank claims to have added a total of 106 tonnes of monetary gold to its reserves, taking China’s strategic gold stockpile from a reported 1842 tonnes at the end of November 2018 to the current total of 1948 tonnes.