China’s central bank added 160,000 troy ounces of gold to its reserves in March,
marking a 17th consecutive month of purchases, according to official data. The
People’s Bank of China remains one of the world’s largest gold buyers,
continuing accumulation even as gold prices fell 12% in March, the worst monthly
performance since 2008, amid US dollar strength and shifting rate expectations
linked to Middle East tensions. The buying contrasts with some central banks,
including Turkey, which sold gold to support its currency. According to the
World Gold Council, global central banks bought a net 25 tons of gold in the
first two months of the year.
