Gold: China’s buying spree continues as central banks boost demand
China’s central bank increased its gold reserves in March for the fourth consecutive month, continuing a major spree in buying of the precious metal.
People’s Bank of China figures cited by Bloomberg indicate the central bank increased reserves to 60.62 million ounces in March.
Gold’s attractiveness has increased as the US dollar remains weaker. Central-bank dovishness has also affected demand.
Business Insider