China raises Gold reserves for first time since October 2016

Beijing (Jan 7)  China gold reserves rose to 59.560 million fine troy ounces at end-December, the first increase since October 2016, central bank data showed.

The country's gold reserves had been steady at 59.240 million fine troy ounces from October 2016 to November 2018, according to data from the People's Bank of China.

The world’s biggest producer and consumer boosted holdings of bullion in a month marked by mounting concerns that China’s trade dispute with the U.S. is threatening economic growth.

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