Macroeconomics

China's Gold Reserves Unchanged for Fifth Straight Month in September

October 07, 2024, 10.31 AM | Source: Reuters

ILUSTRASI. A woman holds a one-kilogram gold bar at the headquarters of the Australian Bullion Company (ABC) in Sydney, Australia, in this file picture taken April 19, 2013. Australia's gold producers are set to report a round of higher half-year profits next week, but the results could pale against future gains as global economic woes light up bullion prices and miners dig more metal. Gold output in the world's second-biggest producer after China is set to rise sharply in the year to end-June 2016 from 275 tonnes a year earlier, as miners ramp up production to capture gold's upward momentum. REUTERS/Daniel Munoz/Files

CHINA - SHANGHAI. China's central bank held back on buying gold for its reserves for a fifth straight month in September, official data showed on Monday, mainly due to a surge in prices for the yellow metal.

China's gold holdings stood at 72.8 million troy ounces at the end of last month. The value of the gold reserves, however, rose to $191.47 billion from $182.98 billion at the end of August.

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Editor: Yudho Winarto