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Kitco News: People's Bank of China adds 21 tonnes of gold in September, biggest monthly increase in three years

AI Market Summary
The People's Bank of China reported a 21-tonne gold reserve increase in September, its largest monthly addition in three years and the 23rd consecutive month of buying. Official-sector accumulation at size reinforces structural demand and signals ongoing diversification away from fiat reserves, even as prices declined. This can tighten physical market balances and support near-term bullion sentiment, with spillovers to broader precious-metals positioning.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-1.07%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
China's central bank sharply stepped up gold buying in September as bullion prices retreated, posting its largest monthly rise in official reserves in three years, the People's Bank of China said Wednesday. The PBoC added 21 tonnes last month, taking total gold reserves to 2,196 tonnes as of end-September. The move marked the 23rd straight month of net purchases, according to the central bank.
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