China’s central bank has released the gold reserves data since September 2019.
The central bank said that China’s gold reserves increased by one billion and eight hundred million dollars, which was caused by the discovery of thirty-two tons of gold reserves.
According to leading sources, China’s gold reserves reached 1,980 tons this year and are worth about $112 billion.
Let us also tell you that China has reached the 6th place in terms of holding gold reserves, but it is still behind Russia, the United States or Germany. It is about 8133.5 tons.
China’s announcement continued to show that China’s gold reserves are not increasing, but ignoring all these news, China announced that China’s gold reserves have increased by hundreds of tons.
In this regard, the World Gold Council said that China has bought 399 tons of gold from the central bank this year and the most gold has been bought in 3 months of this year.
The World Gold Council also stated that the Central Banks from which the gold was buy did not detect such a purchase at all, which was spreading many rumors.
The increase in China’s gold reserves was revealed in a notice issued by the Public Bank of China, which clearly stated that China’s gold reserves increased more than we expected in the month of November this year.