China’s Gold Buying Spree Continues For Seventh Consecutive Month

In an unabated buying spree, China has continued to expand its gold reserves for a seventh consecutive month, reinforcing the sustained global demand for the precious metal among central banks. As per Wednesday’s data from the People’s Bank of China, the nation’s gold holdings saw an approximately 16-ton increase in May.

This surge brings the total stockpile to roughly 2,092 tons, following an addition of 144 tons from November through the previous month. In the wake of escalating geopolitical uncertainty and persistent global…