China keeps buying gold: April's 8-tonne purchase marks its 6-month shopping spree gold China
- After a solid start in the first quarter, China's central bank has once again demonstrated its appetite for gold. And while the demand is slowing, it is not going away.
China's latest update on its gold reserves comes after the Word Gold Council said that central banks bought 228.4 tonnes of gold between January and March, a record for first-quarter demand. Although China's and other central bank gold demand appears to be slowing, analysts don't expect the trend to reverse anytime soon.
Looking specifically at China's gold reserves, officially, it currently has the seventh largest gold hoard in the world, behind Russia, which holds 2,326.50 tonnes of gold.
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