IAUM - Exceptionally Strong PBoC And Chinese Private Sector Buying Continues To Boost Gold Price
2024-05-23 03:10:00 ET
Summary
- Chinese private sector gold imports accounted for 543 tonnes in the first quarter, while the People’s Bank of China (PBoC) added 189 tonnes to its reserves over this time horizon.
- I expect that China will remain a robust buyer of gold going forward in support of the price.
- Taking into account unreported purchases, the Chinese central bank now holds gold reserves weighing 5,542 tonnes, according to my research.
Chinese private sector gold imports accounted for 543 tonnes in the first quarter, while the People’s Bank of China (PBoC) added 189 tonnes to its reserves over this time horizon....
Exceptionally Strong PBoC And Chinese Private Sector Buying Continues To Boost Gold Price