The People’s Bank of China increased its gold holdings in August for a 10th month, in a continued push to diversify its reserves away from US dollars.
Bullion held by the central bank rose by 0.06 million troy ounces to 74.02 million troy ounces last month, according to data released on Sunday. China began this round of gold purchases in November, accumulating a total of 1.22 million troy ounces over the period.