08 Sep, 23

China’s Massive Gold-Buying Spree Continues

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After returning to net gold buying in June, central banks continued to add to their gold reserves in July. Globally, central banks reported net purchases of 55 tons in July, according to the latest data compiled by the World Gold Council. In March, April and May, central banks reported net gold sales, primarily due to Turkey selling 160 tons of gold over that three-month period. According to the World Gold Council, this was a specific response to local market dynamics and didn’t likely reflect a change in the Turkish central bank’s…

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