Gold Holdings By China's Central Bank Rise For Five Consecutive Months

Data from the State Administration of Foreign Exchange showed that by the end of March 2023, China's foreign exchange reserves were $3.18 trillion, an increase of $50.7 billion, or 1.62%, from the end of February. Among them, Chia's gold reserves reached 66.5 million ounces at the end of March, an increase of 580,000 ounces from the previous month. It is worth noting that this is the fifth consecutive month since November last year that the central bank has increased its holdings of gold, with an accumulative increase of 3.86 million ounces of gold. If calculated based on the average price of gold, the corresponding amount of increased holdings is nearly 50 billion yuan.