07.09.2025 10:13
The People's Bank of China has been increasing its gold reserves through regular purchases each month for the past 10 months, shifting its focus from the dollar to gold. China's appetite for gold has created an atmosphere of uncertainty that is being closely monitored in global markets.
```html
The People's Bank of China continues to accelerate its gold purchases as part of its currency reserve diversification policy. With the latest purchase made in August, China has increased its gold reserves for the 10th consecutive time.
STABLE INCREASE IN RESERVES
According to the latest official data released by the central bank, 0.06 million troy ounces of gold were added to the reserves in August. Thus, the total asset rose to 74.02 million troy ounces. China has accumulated approximately 1.22 million troy ounces of gold since it started the buying process in November.
RECORD RISE IN GOLD
Gold prices have recently reached new records. Expectations of interest rate cuts in the U.S. and political pressure from the White House on the Fed have increased demand for safe havens, breaking the long-standing stagnant trend of gold.
GOLDMAN SACHS: IT MAY APPROACH $5,000
The international investment bank Goldman Sachs emphasized that this year gold prices have risen by more than 30%, surpassing $3,500 per ounce. The bank warned that if developments undermine the Fed's independence, gold could approach the $5,000 level.
GLOBAL PERSPECTIVE FROM THE WORLD GOLD COUNCIL
The latest report published by the World Gold Council, supported by producers, revealed that despite central banks slowing down their gold purchases due to price increases, geopolitical risks will continue to support demand from the official sector.
```