China's golden reserve in September increased for the 11th consecutive month, and the surge in local gold premium caused market attention.
Bloomberg reported that according to the official data released on Saturday (October 7), the Gold Reserve of the People's Bank of China in September increased by 840,000 ounces.
Among the central banks around the world, China is particularly keen on buying gold this year.Under the pressure of rising global interest rates, China's strong demand has always been a factor in supporting gold prices.The World Gold Association issued a statement issued in October that the global central bank demand in August is quite considerable, but it is limited to a few countries such as China.
At the same time, the concerns of the slowdown in the economic slowdown have promoted China's domestic demand for safe -haven assets, leading to a premium of local gold prices relative to international prices, soaring to a record high last month.According to Bloomberg, the People's Bank of China may be implemented with gold import restrictions to support RMB, and it has also promoted the rise in premiums.
Although the premium fell sharply last week after the Chinese government issued import quotas to the bank, the market's attention to the central bank's purchase of activities rose, because the price of Chinese consumers was still high.
