China Gold Buying Slows as Reserves Grow for 18th Straight Month

(Bloomberg) — China’s central bank topped up its gold reserves for an 18th straight month in April, although the pace of buying slowed in the face of record prices.

The People’s Bank of China (PBOC) has long been one of the market’s largest buyers, steadily growing its bullion holdings since 2022. However, the precious metal’s record-breaking rally since mid-February — with successive all-time-highs reached last month — seems to have dented demand.