China's Central Bank Adds Gold for 24th Consecutive Month, Holdings Hit 2,435 Tonnes

The People's Bank of China (PBOC) has increased its gold reserves for the 24th consecutive month, bringing total holdings to 78.30 million ounces (approximately 2,435 tonnes) as of the end of October. The central bank added 830,000 ounces (about 25.8 tonnes) of gold during October, up from 77.47 million ounces at the end of September. The sustained accumulation underscores Beijing's ongoing strategy to diversify its foreign exchange reserves and reduce reliance on the US dollar.