Sunday, September 7, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Lifestyle

China’s central bank resumes gold purchases after six-month hiatus in November

by Mark Darwin
in Lifestyle
China’s central bank resumes gold purchases after six-month hiatus in November
Share on FacebookShare on Twitter


CHINA’S central bank resumed buying gold for its reserves in November after a six-month pause, official data by the People’s Bank of China (PBOC) showed on Saturday (Dec 7).

The PBOC was the world’s largest official sector buyer of gold in 2023. Resumption of its purchases may support Chinese investor demand which was muted since the PBOC paused its 18-month buying streak in May.

China’s gold holdings rose to 73 million fine troy ounces at the end of November, up from 72.8 million troy ounces a month earlier.

The value of China’s gold reserves fell to US$193.4 billion at the end of last month from US$199.16 billion at the end of October.

November was gold’s first monthly price drop since June due to a post-US election sell-off driven by Donald Trump’s win.

Spot prices for the precious metal are down 5 per cent since hitting a record high of US$2,790.15 an ounce on Oct 31, but are still up 28 per cent so far this year.

“The resumption will send a signal that the PBOC has grown accustomed to these record-high price levels and is prepared to build reserves regardless,” said Ole Hansen, head of commodity strategy at Saxo Bank. REUTERS

Share with us your feedback on BT’s products and services

Tags: BankCentralChinasGoldhiatusNovemberPurchasesResumessixmonth
Mark Darwin

Mark Darwin

Next Post
China’s 1,000 km/h Maglev Trains Aim to Surpass Planes: Elon Musk Calls It a “Super Big Deal

China's 1,000 km/h Maglev Trains Aim to Surpass Planes: Elon Musk Calls It a "Super Big Deal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In