Sep
29
China Boosts Gold Reserves 1% in August, Diversifying Assets
By-
Country reporting its position monthly in transparency push
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Russia, Kazakhstan have also been increasing holdings
China, which rivals India as the world’s largest bullion consumer, boosted central bank gold holdings by 1 percent in August as the country sought to diversify its foreign exchange reserves.
The hoard rose to 54.45 million troy ounces from 53.93 million ounces a month earlier, according to data released by the central bank on Wednesday. China ended six years of mystery surrounding its holdings in July, revealing a 57 percent jump since 2009 and overtaking Russia to become the country with the fifth-largest stash…
China Boosts Gold Reserves 1% in August, Diversifying Assets
