In June, China's central bank, PBOC, did not buy gold for the second month, pausing an 18-month buying spree.
In June, China's central bank, the People's Bank of China (PBOC), did not buy gold for the second consecutive month, with gold holdings remaining unchanged at 72.8 million troy ounces. This pause follows an 18-month buying spree that contributed to gold prices reaching record highs. Some analysts predict that the PBOC may resume gold purchases to diversify reserves and protect against currency depreciation.
July 07, 2024
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