Exceptionally Strong PBoC and Chinese Private Sector Buying Continues to Boost Gold Price
www.thegoldobserver.com
Chinese private sector gold imports accounted for 543 tonnes in the first quarter, while the People’s Bank of China (PBoC) added 189 tonnes to its reserves over this time horizon. Most of the PBoC’s purchases are “unreported.” China continues to be the marginal buyer in the gold market, driving up the price. I expect that China will remain a robust buyer of gold going forward in support of the price.
Exceptionally Strong PBoC and Chinese Private Sector Buying Continues to Boost Gold Price
Exceptionally Strong PBoC and Chinese Private…
Exceptionally Strong PBoC and Chinese Private Sector Buying Continues to Boost Gold Price
Chinese private sector gold imports accounted for 543 tonnes in the first quarter, while the People’s Bank of China (PBoC) added 189 tonnes to its reserves over this time horizon. Most of the PBoC’s purchases are “unreported.” China continues to be the marginal buyer in the gold market, driving up the price. I expect that China will remain a robust buyer of gold going forward in support of the price.