China added to its gold reserves for the eleventh consecutive month in September. The bullion held by the People's Bank of China rose by 840,000 troy ounces (2.75 grams more than a regular ounce) in September, according to official data.
Among the world's central banks, China has emerged this year as an enthusiastic buyer of gold. Strong demand in the Asian country has supported the precious metal, which has come under pressure from rising interest rates around the world.
According to the World Gold Council, demand from global central banks in August was large, although limited to a small number of countries, including China.
Source (Alkhaleej Emirati Newspaper, Edited)
