China's central bank increased its gold reserves for the fourth consecutive month to continue a major spree in buying of the precious metal.
reserves for the fourth consecutive month to continue a major spree in buying of the precious metal.
People's Bank of China figures indicate the central bank increased reserves to 60.62 million ounces in March, according its website, cited by Bloomberg. Gold's attractiveness has increased as the US dollar remains weaker. Central bank dovishness has also impacted demand.China's gold-buying run has shown no signs of abating after the People's Bank of China added yet more of the precious metal to its reserves in March.
Figures on the central bank's website indicate it increased reserves to 60.62 million ounces in March from 60.26 million a month earlier,Central banks added 651.5 tons of gold to their reserves in 2018, the second-highest total on record,
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple just slashed iPhone prices in China for the first time this yearApple has lowered the prices of various iPhone models in China, including the iPhone X, iPhone 8, and iPhone 7.
Read more »
China to regulate all fentanyl drugs, keeping promise to TrumpChina said Monday it would begin regulating all fentanyl-related drugs as a class of controlled substances, in a change U.S. officials had long advocated as a way to stem the flow of lethal opioids from China.
Read more »
China books fresh deal for 828,000 tonnes of U.S. soybeansU.S. exporters sold 828,000 tonnes of soybeans to China, the U.S. Agriculture De...
Read more »
At least 30 dead as firefighters battle China forest fireThe deaths occurred after a change of wind Sunday as the firefighters were battling the blaze in a rugged area at an altitude of 3,800 meters.
Read more »
Apple slashes iPhone prices in ChinaThe price cuts come as iPhone sales have fallen in China.
Read more »
Dow rises more than 150 to start off the quarter on strong China data, trade progressStocks jumped at the open to the 2nd quarter as strong manufacturing data out of China eased worries of a possible global economic slowdown.
Read more »
China data, trade hopes boost European sharesEuropean shares started the second quarter strongly on Monday, posting their big...
Read more »
Dow tops 26,000 as U.S., China data points to stabilizing global slowdownU.S. stocks kicked off the week with strong gains on Monday after better-than-expected Chinese and U.S. economic data suggested the slowdown in the global...
Read more »
The Inter-American Development Bank cancels its big bash in ChinaWhy a conference about Latin America will no longer be held in Chengdu, China
Read more »