China’s gold reserves rose slightly in July, according to the latest data published by the Chinese central bank (PBOC).
The Chinese gold reserves rose to 62.26 mln fine troy oz at end-July vs. 61.94 mln troy oz seen at end-June.
The value of China’s gold reserves ticked up to $ 88.876 billion at the end of July from $87.27 billion at the end of June while the country’s foreign exchange reserves fell $15.54 billion in July to $3.104 trillion.
China is the world’s biggest consumer of gold. Meanwhile, the yellow metal trades at multi-year highs and nears the critical $ 1500 mark amid mounting risks of a full-blown trade war.
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