PBOC boosts Gold reserves for the fifth consecutive month

The latest data published by the People’s Bank of China (PBOC) on Monday showed that the Chinese central bank increased its state Gold reserves for the fifth consecutive month.

China's Gold reserves stood at $229.59 billion at end-March, compared to $208.64 billion at end-February.

Additional details

"China gold reserves 73.70 million (mln) fine troy oz at end-March vs. 73.61 mln troy oz at end-February."

"China FX reserves $3.241 trillion (trln) at end-March vs. $3.227 trln at end-February."

Market reaction

Gold price catches a fresh bid on the above headlines, regaining $3,050 at the time of writing, up 0.50% on the day.