Gold soars, but China keeps buying: People’s Bank of China adds 650,000 ounces in August, biggest monthly increase in nearly 3 years, extends buying streak to 22 months

Large economies like India and China have been buying gold for the last few years. While India’s purchases have somewhat reduced, China has increased its gold reserves by the largest amount since 2023 in August, stepping up purchases even as bullion prices climbed sharply during the month.
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