China bought another 30 tons of gold in December 2022.Deltafx Admin 11 January 2023
China bought another 30 tons of gold in December 2022.
Information posted on the Bank of China’s website over the weekend reports a 30-ton increase in gold reserves in December, bringing the country’s gold reserves to 2,010 tons.
It should be noted that this comes after the purchase of 32 tons in November.
The PBOC’s previously reported gold purchases occurred in September 2019 and before that in October 2016. The large purchases are again a response to increased geopolitical risk and perhaps more in the future.
The PBOC reported that the country’s foreign exchange reserves increased by about $11 billion at the end of December compared to the end of November and now stand at $3.12 trillion.