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China’s central bank has demonstrated its commitment to building gold reserves by adding 0.16 million troy ounces in January, continuing a pattern that resumed in November after a six-month break.
This strategic move comes despite gold reaching unprecedented price levels, highlighting the PBOC’s determination to diversify its holdings.
The timing is particularly significant, as it coincides with growing global economic uncertainties and follows an earlier 18-month buying spree. According to Bloomberg Economics analyst David Qu, the decision may be politically motivated, noting the correlation with U.S. political developments.
While the central bank pursues this strategy, domestic gold jewelry demand remains subdued, reflecting broader economic challenges in China’s consumer market.
