Value of China’s gold reserves falls in Sept to $61.2 billion – PBOC

FXStreet (Mumbai) – After boosting gold reserves by 19 tons in July, 16 tons in August, the Chinese central bank appear to have increased its gold holdings in September, by about 15 metric tons to 1,709 tons, citing diversification of its forex reserves as the primary reason behind the move.

The value of gold assets was $61.2 billion at the end of last month from $61.8 billion at end-August, data from the People’s Bank of China website released Wednesday show and as Bloomberg reports.

After boosting gold reserves by 19 tons in July, 16 tons in August, the Chinese central bank appear to have increased its gold holdings in September, by about 15 metric tons to 1,709 tons, citing diversification of its forex reserves as the primary reason behind the move.

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