ML-Implode News - Gold Bullion Latest News: China Adds for 4th Month

China, the world's top gold producer and consumer, is facing signs of a slowing economy, even as progress is being made in trade negotiations with the U.S. The latest data from the PBOC indicate that the country has resumed adding gold to its reserves at a steady pace, much like the period from mid-2015 to October 2016, when the country boosted holdings almost every month. Should China continue to accumulate bullion at the current rate over 2019, it may end the year as the top buyer after Russia, which added 274 tons in 2018.
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Governments worldwide added 651.5 tons of bullion in 2018, the second-highest total on record, according to the World Gold Council. ... Spot goldÂ fell for a second month in March even after the Federal Reserve signaled it would pause rate hikes, which led to a surge in equities instead.
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China has previously gone long periods without revealing increases in gold holdings. When the central bank announced a 57 percent jump in reserves to 53.3 million ounces in mid-2015, it was the first update in six years. The latest pause was from October 2016 until December last year.

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Gold Bullion Latest News: China Adds for 4th Month