US Dollar Slips as Softer PPI Data Eases Fed Rate Hike Expectations 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
Asian Currencies Steady as Dollar Holds Firm After U.S. Inflation Data 
Gold Prices Slip From 10-Week High as Fed and Hormuz Risks Shape Outlook 
Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar 
France Inflation Rises 2.4% in July as Consumer Prices Increase 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
US Dollar Holds Firm as Fed Outlook and Iran Tensions Keep Markets on Edge 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Oil Prices Slide as OPEC, IEA Cut 2026 Demand Forecasts 
Canada-US Trade Talks Gain Momentum Ahead of Aug. 19 Tariff Deadline 
Wall Street Hits Record High as Softer Inflation Data Eases Fed Rate Hike Fears 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Add as a preferred source on Google
China’s Gold Reserves Steady; Value Rises with Market Trends
China’s central bank refrained from purchasing additional gold for the fifth consecutive month in September due to rising gold prices, as per official data. The country's gold reserves stayed at 72.8 million troy ounces, while their value increased from $182.98 billion in August to $191.47 billion by the end of September.
Gold Price Surge Influences Central Bank Decisions
Gold prices have soared approximately 28% this year, heading for their biggest annual gain in 14 years. The surge is attributed to U.S. Federal Reserve interest rate cuts, rising geopolitical tensions, and continued demand from global central banks.
Global Trends: Central Bank Gold Buying Expected to Slow in 2024
According to the World Gold Council, central bank gold purchases are expected to slow in 2024 compared to 2023, though they are predicted to remain higher than pre-2022 levels. This deceleration partly reflects the People's Bank of China’s (PBOC) decision to halt purchases after an 18-month buying streak that ended in May.
China's Strategic Timing in Gold Accumulation
As the world's largest official sector gold buyer in 2023, the PBOC’s pause has softened domestic investor demand. Nitesh Shah, a commodity strategist at WisdomTree, suggests the PBOC may be holding off on new purchases to find a more attractive price entry. However, given rising geopolitical tensions and declining global interest rates, such an opportunity may be delayed. Shah forecasts that gold prices could surpass $3,000/oz in the coming year, urging the PBOC to potentially resume accumulation sooner.
