China’s central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase.
This brings total China’s gold reserves to a record 2,292 tonnes.
Chinese gold holdings now reflect 6.5% of its total official reserve assets.
According to Goldman Sachs, China actually purchased a whopping 50 tonnes of gold in February, or 10 times more than officially reported.
Over the last 3 years, China's purchases of gold on the London OTC market have significantly surpassed officially reported numbers.
China is accumulating gold at a rapid pace.
