The price of gold rises .. and China buy

The Chinese Central Bank continued to increase its gold reserves for the third month in January, despite the high price of the precious metal to the highest level since the beginning of the year. The Chinese People’s Bank raised the alloys by 160,000 ounces of “luxury” over the past month, according to the data released on Friday. The central bank resumed the addition of gold to its reserves in November, after a six -month hiatus ended a purchase in a year and a half. China optimism about gold reflects this step that the Chinese People’s Bank’s commitment to diversifying its reserves, even with gold prices reaching high historical levels. The purchase of the central bank forms one of the few bright points in China that supports the optimistic view of gold, while the demand for jewelry remains weak despite the impact of the holiday period. Also read: “City” is expected to reach the price of gold 3000 dollars due to Trump fees. The Chinese People’s Bank has joined a group of central banks that improve their golden reserves amid a state of geopolitical uncertainty, in a move seen as an engine for this year. The metal has reached successive standard levels this week, with the support of the demand for safe haven in the trade war between China and the United States, and the ongoing geopolitical uncertainty.