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Investing.com -- The People’s Bank of China (PBOC) has increased its gold reserves for the fourth consecutive month in February, in line with the rising value of the precious metal.
The central bank’s bullion holdings grew by 0.16 million troy ounces over the past month, as per data released on Friday.
Following an 18-month period of consistent purchases, the PBOC had paused the increase of its gold reserves for six months before resuming the activity in November.
This recent growth in gold reserves underscores the central bank’s dedication to diversifying its reserves, mirroring a broader trend among global central banks to lean towards the precious metal.
There has been market speculation surrounding the United States possibly revaluing its gold stockpiles, which has further highlighted the increasing significance of bullion as a reserve asset.
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