Beijing, June 8: According to data released by China’s central bank on Sunday, the country’s gold reserves reached 74.96 million ounces by the end of May. This marks an increase of 320,000 ounces from 74.64 million ounces at the end of April. This is the 19th consecutive month of growth in China’s gold reserves.
The data indicates that since February of this year, the monthly increase in gold reserves has gradually risen from 30,000 ounces to 320,000 ounces, with the growth rate consistently accelerating.
Analysts believe that the decline in international gold prices in May may have prompted the central bank to ramp up its gold purchases during that month. The recent surge in gold buying by the central bank is attributed to new shifts in the global political and economic landscape.
This suggests that despite historically high gold prices, there is an increasing need to enhance gold reserves from the perspective of optimizing international reserve structures.
(Source: China Media Group, Beijing)
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