| China’s gold reserves rose by more than 19 tonnes in July, the official Xinhua news agency said yesterday, after the central bank last month gave the statistic for the first time in six years. Bullion holdings stood at 1,677.30 tonnes at the end of July, Xinhua said citing the People’s Bank of China (PBoC), a 1.16 per cent increase on June’s 1,658 tonnes.
The rise is worth nearly $700 million, according to yesterday’s price of $1,118.25 an ounce on the London Bullion Market. The PBoC issued gold reserve figures last month for the first time since April 2009, revealing a rise of 57pc over the past six years...............................................Full Article: Source
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