China’s PBOC Adds Gold Again as Bullion Remains Under Pressure - Bloomberg.com
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- PBOC extended its gold‑buying streak to 19 months, continuing purchases amid a strong foreign‑exchange reserve position.
- China's foreign exchange reserves rose in May, reaching the highest level since 2015.
- Foreign‑exchange reserves hit a 10‑year high, supporting the central bank’s confidence in gold accumulation.
Why it matters: The PBOC’s ongoing gold purchases diversify its asset base, while the elevated foreign‑exchange reserves give China greater leeway to stabilize the yuan and influence global gold demand.
