Benzinga: China's Central Bank's Gold Stash Spikes To 2,292 Tons and Beijing is Still Buying
Article by Vishaal Sanjay in Benzinga
China’s central bank continued to accumulate gold, adding 5 tons to its stash in March, marking its 5th consecutive monthly purchase.
On Sunday, The Kobeissi Letter, a popular capital markets newsletter posted on X, stating that China’s Central Bank has purchased gold for the 5th straight month, adding 5 tons in March, and bringing its total gold reserves to a record 2,292 tons.
It adds that gold now accounts for 6.5% of the nation’s official reserve assets, having purchased a “whopping” 50 tons of the yellow metal in February, more than 10 times what was officially reported, according to Goldman Sachs Group Inc.
According to the post, China has been accumulating gold at a rapid pace, with its purchases on the .....