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China’s central bank bought +8 tonnes of gold in April, the most since December 2024.
This follows +5 tonnes acquired in March, the 2nd-largest two-month addition since Q1 2024.
This also marks their 18th consecutive monthly purchase, bringing total official holdings up to a record 2,322 tonnes.
Year-to-date, China’s central bank has bought +15 tonnes of gold, on track for its biggest annual purchase since 2023.
Since 2022, the country has officially increased its gold holdings by +372 tonnes, or +19%, making China one of the strongest gold buyers in the world.
China is buying the dip in gold.