16:58 - 7.04.2026

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April 7, Fineko/abc.az. In March, the People's Bank of China acquired a record amount of gold - more than 160,000 troy ounces (about 5 tons), which was the highest in the last year.

ABC.AZ reports that this is probably due to the fall in the gold price in March, with monthly decline of 12%. This is the worst indicator since 2008.

According to Bloomberg, the recession provoked conflict in the Middle East. Additional pressure on the quotes was exerted by sales of the precious metal by investors seeking to cover losses on other assets.

The Central Bank of China has been building up gold reserves for 17 months in a row.

On Tuesday, April 7, the price of gold was above $4,690 per ounce. Meanwhile, at the end of January, its price reached a historic high of about $5,600 per ounce.