China's Central Bank Increases Gold Reserves for 20th Consecutive Month

China's central bank continued its sustained accumulation of gold in June, increasing its reserves for the 20th consecutive month, according to official data released by the People’s Bank of China (PBOC).

The nation's gold holdings reached 75.44 million fine troy ounces by the end of June. This marks an increase from the 74.96 million ounces reported at the end of May.

Despite the increase in the physical amount of gold, the reported value of China's gold reserves declined over the same period. The total value stood at $303.72 billion at the end of last month, compared to $340.75 billion at the end of May.

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The consistent monthly purchases underscore a significant, long-term trend of gold acquisition by the Chinese central bank.