Gold soars, but China keeps buying: People’s Bank of China adds 650,000 ounces in August, biggest monthly increase in nearly 3 years, extends buying streak to 22 months
China, which ranks among the world’s biggest official-sector gold buyers, has now continued adding bullion to its reserves for 22 consecutive months. Gold prices are driven not just by the gold individuals buy or sell. In fact, one of the biggest factors that drives gold prices is the trendline of central banks buying or selling…
