The People's Bank of China said official gold holdings rose to 77.47 million ounces in September, a 23rd monthly increase, while foreign-exchange reserves fell to 3.4003 trillion dollars.
China's official gold holdings rose for a 23rd consecutive month in September, the People's Bank of China data showed. Global Times put the stock at 77.47 million ounces, up from 76.73 million ounces in August, a monthly addition of 740,000 ounces.
Kitco, also citing the central bank, described the September rise as 21 tonnes, taking holdings to 2,196 tonnes, and called it the largest monthly addition in three years. The two reports use different units for the same reserve print. August's addition had been smaller, both accounts said.
The State Administration of Foreign Exchange said foreign-exchange reserves were 3.4003 trillion dollars at the end of September, down 38.1 billion dollars, or 1.11 percent, from August. Global Times quoted professor Li Changan saying the purchases help hedge financial and geopolitical risk.
The figures were released on Wednesday and were still being reported on Thursday. They are reserve data, not a stated target for further buying.
Global Times is a state-affiliated outlet. The ounce and tonne totals come from its account and from Kitco's reading of the same central-bank release.
People Sentiments Neutral
- Li Changan said higher gold holdings help hedge international financial and geopolitical risks.