China Makes Largest Gold Purchase Since 2023 as Bullion’s Price Surges 8%
🏆 China has made its largest gold purchase in nearly three years, adding about 640,000 troy ounces in July, marking 21 consecutive months of accumulation.
📈 The surge in gold prices, which rose 8% recently, is attributed to significant central bank purchases, including a record 289 tonnes in Q2, helping gold recover from a previous decline.
🔒 In contrast to its gold strategy, China has tightened cryptocurrency restrictions, reaffirming that digital asset-related activities remain illegal while expanding scrutiny on stablecoins.
🏆 China has made its largest gold purchase in nearly three years, adding about 640,000 troy ounces in July, marking 21 consecutive months of accumulation.
📈 The surge in gold prices, which rose 8% recently, is attributed to significant central bank purchases, including a record 289 tonnes in Q2, helping gold recover from a previous decline.
🔒 In contrast to its gold strategy, China has tightened cryptocurrency restrictions, reaffirming that digital asset-related activities remain illegal while expanding scrutiny on stablecoins.