China's Central Bank Adds 320,000 Ounces of Gold in May, Reaching 74.96M Ounces

According to China's central bank data released on June 10, the country's gold reserves reached 74.96 million ounces at the end of May, with an increase of 320,000 ounces for the month. This marks the 19th consecutive month of gold purchases and the largest single-month addition since the end of 2024, demonstrating sustained strategic allocation despite falling gold prices.

The central bank's gold purchases are also under scrutiny as markets await the Federal Reserve's June interest rate decision, with newly appointed Chair Powell set to lead his first meeting amid expectations around rate policy adjustments.