China Raises Its Gold Reserve Marginally

CHINA August 09 2016 2:38 PM

BEIJING (Scrap Register): As of the end of July, national gold reserves of China increased slightly by 0.29 percent to 5879 oz from 5862 oz as compared to end June.

The gold reserves value as of end July increased 2 percent to $78.89 billion compared to $77.4 billion as of end-June, data showed by bank of China.

China stands behind Russia for the second largest central bank purchaser of gold which added 208 mt of gold in 2015. China consumed a total 528.5 mt gold in the first half of this year, down 7.68% year on year, figures from China Gold Association showed.

Chinese national gold output in first-half 2016 was 229 mt, up 0.16% year on year, according to CGA.