PBoC and RBI have highest-ever gold holdings, WGC says
PBoC paused gold purchases in May for first time since November 2022
The central banks of China and India have amassed peak levels of gold as countries attempt to diversify foreign exchange reserves away from the US dollar, data published by the World Gold Council (WGC) showed.
The People’s Bank of China (PBoC)’s gold reserves hit 2,264 tonnes at the end of May, the first month since November 2022 in which it did not announce any new purchase of gold. The precious metal now constitutes 4.93% of China’s total exchange reserves, the highest level ever. The PBoC held
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