China’s Central Bank Keeps Gold Buying on Hold for Second Month

(Bloomberg) — China’s central bank didn’t buy any gold for a second month in June, as the precious metal edged down from a record high.

Bullion held by the People’s Bank of China (PBOC)was unchanged at 72.8 million troy ounces at the end of last month, according to official data released on Sunday. The central bank opted not to add to reserves in May, ending an 18-month buying spree that helped push gold prices to their highest ever.