Despite a slight decline from the early morning, the yellow metal has pared its gains from the day amid selling pressure amid concerns that demand will be sluggish in the coming period. Investors’ concerns were heightened as the official report released on Wednesday showed that the People’s Bank of China continued to hold steady in July.
Thus, the bank’s reported gold reserves have remained unchanged for the third consecutive month. According to Krishan Gopaul, senior analyst at the World Gold Council, China’s gold holdings remain at 2,264 tonnes and still account for about 5% of its total reserves.
Thus, the bank’s reported gold reserves have remained unchanged for the third consecutive month. According to Krishan Gopaul, senior analyst at the World Gold Council, China’s gold holdings remain at 2,264 tonnes and still account for about 5% of its total reserves.
Note
SELL XAU 2421 TP1: 2415
TP2: 2410
SL: 2428
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.