Whilst we wait13 Feb 2019 15:12
China Adds 11.8 Tonnes of Gold to Reserves in January
Central Bank gold demand is seeing unprecedented demand with the People's Bank of China locking in nearly 12 tonnes last month. This increase follows a recent purchase in December which saw the bank buying gold for the first time since October 2016.
“In the past, the PBOC has tended to buy gold for several months in succession,”, according to some analysts, central-bank demand is helping to support gold’s current rally as prices hold above critical support at $1,300 an ounce. April gold futures last traded at $1,312.30 an ounce, nearly unchanged on the day.