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China’s central bank buys 20.2 tonnes of gold in August, largest purchase since 2023 - KITCO

Source: KITCO

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DW NOTE

China bought 20.2 tonnes of gold in August — its largest monthly purchase since 2023 — while gold trades 16% below its January peak at $4,477. Beijing is accumulating a reserve asset that cannot be sanctioned, diluted by Congress, or frozen in a correspondent bank. When the world's largest exporter no longer trusts the securities of the world's largest debtor, it buys metal.

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China’s central bank buys 20.2 tonnes of gold in August, largest purchase since 2023 - KITCO

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