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PBOC adds 15 tonnes of gold in June, extending reserve-building streak to 20 months

AI Market Summary
China's PBOC added 15 tonnes of gold in June, its largest monthly purchase this year and the 20th consecutive month of reserve accumulation. Buying into a selloff signals continued official-sector demand and may reinforce gold's role as a reserve diversifier amid macro and geopolitical uncertainty. The flow is supportive for bullion sentiment and can tighten physical supply expectations in the near term.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.87%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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China's central bank stepped in during last month's pullback in gold, lifting its official reserves by 15 tonnes in June, according to updated reserve data. The People's Bank of China recorded its largest monthly gold purchase so far this year and extended its run of consecutive monthly increases to 20. Analysts had widely anticipated that central banks would use the latest decline in gold prices to top up official holdings. Full article at Kitco:
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