The latest gold purchase by the world’s second-largest economy came at a time when global central banks are hoarding the precious metal. Photo: Reuters
China joins global central bank gold rush as foreign exchange reserves stabilise
- The country’s gold reserves rose slightly to 59.94 million ounces at the end of January from 59.56 million ounces at the end of December 2018
- China, the world’s largest foreign exchange reserve holder, has been reluctant in diversifying its US$3 trillion foreign exchanges into gold
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China economy
The latest gold purchase by the world’s second-largest economy came at a time when global central banks are hoarding the precious metal. Photo: Reuters