China has increased gold reserves for the sixth consecutive month. As geopolitics and economic risks are constantly being upgraded, gold holdings are increased as central banks in other countries.
According to data released by the China National Bureau of Foreign Exchange on Sunday (May 7), China's foreign exchange reserve increased by about 8.09 tons in April.At present, the total amount of gold reserves is about 2076 tons, and the increase of about 120 tons in the five months ended March.
Bloomberg reported that the central banks of various countries have purchased a large amount of gold in the past year to achieve diversified assets and protect the reserves from the impact of the US dollar soft and crazy inflation.China and Türkiye are among the largest buyers.
Reported that China ’s wave of buying began in November last year.Earlier, in the ten months of September 2019, China has also increased its holdings in succession.
Data also show that China ’s foreign exchange reserves at the end of April were US $ 320.48 trillion (the same below, about S $ 4.25 trillion), an increase of 20.9 billion US dollars from the end of March, an increase of 0.66%.
In the announcement, the US dollar index fell in April, and the global financial asset prices rose overall. Under the comprehensive effects of exchange rate converts and asset price changes, foreign exchange reserves rose.
The foreign exchange bureau said that China's economic development has risen to a good trend, which is conducive to the continued stability of foreign exchange reserves.
