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المشهد العربي
People's Bank of China Adds 20 Tons Gold
The Chinese Central Bank continued to boost its gold reserves for the sixth consecutive month in August, acquiring approximately 20.2 tons of the yellow metal. This brought total holdings to about 76.73 million ounces (roughly 2,385 tons). The ongoing purchases led to an increase in the value of gold reserves to $350.08 billion by the end of August, a rise of $14.3 billion from July. Additionally, gold prices surged by 9.7% during the month, driven by a weak US dollar and declining bond yields, as demand for the metal as a safe haven increased.
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