WS #15761
The People's Bank of China has increased its gold reserves by 23 tonnes in September, the fastest pace in three years, as part of a strategic pivot away from US dollar assets. This sustained central bank buying provides a structural floor for gold prices and signals a long-term shift in global reserve management, benefiting precious metals miners and reducing demand for the USD in official reserves.
Gold and Currency Flows
The People's Bank of China has increased its gold reserves by 23 tonnes in September, the fastest pace in three years, as part of a strategic pivot away from US dollar assets. This sustained central bank buying provides a structural floor for gold prices and signals a long-term shift in global reserve management, benefiting precious metals miners and reducing demand for the USD in official reserves.