Source: China – South China Morning PostChina’s central bank extended its gold-buying streak for a 10th straight month in August, part of a broader rush into the precious metal by global central banks that has lifted prices to new heights.
The move came as Beijing attempts to further diversify its reserves at a time of mounting geopolitical risks and lingering doubts over the long-term stability of assets backed by the US dollar.
China’s foreign exchange regulator said the country’s gold holdings rose to 74.02 million ounces at the…Read More