China has added almost 100 t of gold to its reserves since it resumed buying in December, with the consistent run of accumulation coming amid a rally in prices and the drag of the trade war with Washington.
The People’s Bank of China raised bullion holdings to 62.45-million ounces in August from 62.26-million a month earlier, according to data on its website at the weekend. In tonnage terms, August’s inflow was 5.91 t, following the addition of about 94 t in the previous eight months.