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UBS: Chinese, Other Central-Bank Buying Continues Although Pace Slowing

Posted on 08 April 2016

Central-bank buying of gold is likely to continue although at a slower pace, with China setting the pace so far this year, said UBS Thursday. News organizations reported overnight that the People’s Bank of China boosted its holdings by 0.5% in March to 57.79 million ounces.
The buying coincided with a $10.3 billion increase in China’s foreign-exchange reserves to $3.21 trillion, more than analysts were expecting, UBS said. China has been consistently reporting gold buying over the last nine months………………………………………..Full Article: Source


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