The People’s Bank of China’s gold purchases highlight a shifting trend in the gold market, showing stable demand, albeit at lower levels. However, analysts note that central bank demand is expected to continue to create a floor in the market, supporting the current uptrend. Citing updated foreign reserve data published at the start of the month, Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council, said that China’s central bank bought two tonnes of gold in August. After taking a six-month break last year, the PBOC has now extended its renewed buying spree to ten consecutive months. In his social media ... (full story)