đš CHINA IS STILL BUYING GOLD
China just added another 740,000 ounces of gold to its reserves in September â worth roughly $3.1B.
That makes it the 23rd consecutive month of gold accumulation by the PBoC.
Chinaâs official gold holdings have now reached 77.47M ounces, or around 2,410 tonnes.
And hereâs the interesting part
Septemberâs purchase was the largest monthly increase in three years, even while gold prices dropped more than 6%.
That tells you something.
China isnât trying to time every move.
Itâs steadily increasing its gold reserves and diversifying away from traditional reserve assets.
The bigger picture matters more than one month of buying.
Central banks are clearly still treating gold as an important long-term reserve asset.
So the real question is:
How much more gold will China accumulate before this cycle is over? đ
#GOLD_UPDATE #china #crypto #bitcoin #BTC
$XAU
$PAXG
$BTC
China just added another 740,000 ounces of gold to its reserves in September â worth roughly $3.1B.
That makes it the 23rd consecutive month of gold accumulation by the PBoC.
Chinaâs official gold holdings have now reached 77.47M ounces, or around 2,410 tonnes.
And hereâs the interesting part
Septemberâs purchase was the largest monthly increase in three years, even while gold prices dropped more than 6%.
That tells you something.
China isnât trying to time every move.
Itâs steadily increasing its gold reserves and diversifying away from traditional reserve assets.
The bigger picture matters more than one month of buying.
Central banks are clearly still treating gold as an important long-term reserve asset.
So the real question is:
How much more gold will China accumulate before this cycle is over? đ
#GOLD_UPDATE #china #crypto #bitcoin #BTC
$XAU
$PAXG
$BTC