- China's central bank added 740,000 ounces of gold to reserves in September, extending its buying streak to 23 months.
- The September addition pushes the PBOC's buying streak close to the two-year mark.
- The PBOC has stepped up gold purchases in recent months after prices fell toward $4,000 an ounce.
- The PBOC is among the biggest gold buyers in the world.
Quotes
“Holdings of bullion at the People’s Bank of China expanded by 740,000 ounces in September, marking the 23rd month of accumulation”
“The central bank — among the biggest gold buyers in the world — has stepped up purchases in recent months after prices fell.”