12:19 - 8.09.2025

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September 8, Fineko/abc.az. The People’s Bank of China continued to expand its gold reserves in August, marking the tenth consecutive month of purchases.

According to ABC.AZ, last month the central bank added 60,000 troy ounces, bringing total holdings to 74.02 million ounces. Since November of last year, China has accumulated a total of 1.22 million troy ounces of gold.

The purchases come amid record gold price growth, with the metal rising more than 30% this year to exceed $3,500 per ounce. Key drivers of the increase include expectations of US interest rate cuts and geopolitical risks, which have bolstered demand from the official sector.