China’s gold reserves rose for a sixth straight month in May, said the People’s Bank of China Monday, according to Xinhua News Agency.
The nation’s gold reserves ticked up by 510,000 ounces to 61.61 million ounces in May. The reserves were valued at $ 79.83 billion at the end of May, compared with $78.35 billion at the end of April.
While China is the world’s biggest producer of gold, its holdings make up a small percentage of its total foreign exchange reserves, which stood at $3.101 trillion at the end of the last month.
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