China Resumes Gold Purchases, Reserves Rise to 72.96M Ounces Worth $193.4 Billion

Dec 7, 2024, 03:30 AM

China's central bank has resumed purchasing gold reserves in November after a six-month hiatus. The country's gold reserves increased to 72.96 million ounces, up from 72.80 million ounces previously. The value of these reserves, however, declined to $193.4 billion from $199.05 billion due to a drop in gold prices. This marks the first increase in China's gold reserves since May. Additionally, China's end-November foreign exchange reserves stood at $3.26586 trillion.