China Is on a Big Gold-Buying Spree

Inflows since December increase to 42.9 tons as holdings climb
Central-bank demand will help to support prices, Goldman says

China’s foreign-currency holdings rose again, and the country is on a gold-buying spree. Tom Mackenzie reports.(Source: Bloomberg)

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By Ranjeetha Pakiam

April 7, 2019 at 6:10 AM EDT

Updated on

April 8, 2019 at 4:20 AM EDT

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China’s on a bullion-buying spree as Asia’s top economy expanded its gold reserves for a fourth straight month, adding to investors’ optimism that central banks from around the world will press on with a drive to build up holdings. Prices advanced back toward $1,300 an ounce.

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