13:13 - 9.01.2023

---

January 9, Fineko/abc.az. The People's Bank of China, which has not bought gold for more than three years, began buying it for two months in a row.

ABC.AZ reports that the People's Bank of China increased its gold reserves by 32 tons in November and by 30 tons in December. With recent purchases, the country's gold reserves have reached 2,010 tons.

According to World Gold Council’s report, the volume of purchases of precious metals by central banks reached a record level in the 3rd quarter of last year and amounted to almost 400 tons. China's disclosure of information about the purchase of gold sheds light on the identity of these mysterious buyers, and market participants suggest that Russia may be another one of them.

Previously, China did not often report on the dynamics of its gold reserves.