China continues to snap up gold, reserves up for a ninth month in a row

The newest knowledge reveals that China’s gold reserves on the finish of July have been at 73.96 million ounces, up from 73.90 million ounces on the finish of June. In worth phrases, the reserves on the finish of July quantity to $243.99 billion in comparison with $242.93 billion on the finish of June.

Amongst different elements, this i.e. central financial institution demand has been one key driver in driving up gold costs since final yr. And much more so amid the greenback’s lack of confidence and credibility since April owing to coverage incoherence by the US administration.

This text was written by Justin Low at investinglive.com.