China's central bank halted gold purchases, leading to a 1.5% fall in spot gold prices.
China's central bank halted gold purchases for the first time in 18 months, leading to a 1.5% fall in spot gold prices. The People's Bank of China (PBOC) reported that its gold holdings remained unchanged in May, ending a buying spree that had driven gold prices to record highs in May. The pause in gold purchases suggests that China may be reluctant to pay record-high prices for gold.
June 07, 2024
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