The Chinese central increases gold reserves despite standard prices

The Chinese People’s Bank continued to improve its gold reserves for the second month in December, reflecting the renewed interest in buying the precious metal after a temporary stop over the past year due to high prices. The Chinese Central Bank of alloys increased to 73.29 million luxury stories in December, from 72.96 million ounces in the previous month, according to the data released on Tuesday. The central bank resumed the strengthening of its gold reserves in November to a 6 -month stop. Diversifying reserves amid the high prices, this step emphasizes the commitment of the Chinese central bank to diversify its reserves, even with the reach of gold prices to high historical levels. The Precious Metal was witness to a record in 2024, supported by the policy of monetary facilitation in the United States, and the demand for safe haven, as well as the continued purchase of global central banks. However, the increase in the increase slowed after Donald Trump’s victory in the US election, which supported the strength of the dollar. Earlier this week, Goldman Sachs abandoned its expectations of gold prices that reach $ 3,000 to a gram, based on the expectations of lower interest rates by the Federal Reserve during 2025.