China’s Gold Buying Spree Stretches Into Sixth Straight Month

People’s Bank of China adds 8.09 tons in April, bringing stockpile to 2,076 tons, as global central banks gird against inflation and geopolitical risks

China expanded its gold reserves in April for a sixth straight month as global central banks add to their bullion holdings as a hedge against inflation and geopolitical risks.

China’s gold reserves increased by 8.09 tons in April, according to data from the State Administration of Foreign Exchange. Total gold stockpiles reached 2,076 tons after the nation added 120 tons in the five months through March.