NEWS Desk Global
CHINA'S GOLD RESERVES UNCHANGED FOR FIFTH STRAIGHT MONTH IN SEPTEMBER
China's central bank held back on buying gold for its reserves for a fifth straight month in September, mainly due to a surge in prices for the yellow metal. China's gold holdings stood at 72.8 million troy ounces at the end of last month. The value of the gold reserves, however, rose to $191.47 billion from $182.98 billion at the end of August.
Gold prices have risen around 28% so far this year - heading for the biggest annual gain in 14 years - underpinned by the start of U.S. Federal Reserve interest rate cuts, geopolitical tensions and robust demand from central banks.
Comments