China's Central Bank Extends Gold-Buying Streak to Two Years, Adding 830,000 Ounces in October

The People's Bank of China (PBOC) continued its gold-buying spree for the 24th consecutive month in October, adding 830,000 ounces (approximately 25.8 tonnes) to its reserves. This latest purchase, the largest monthly addition since November 2024, occurred despite a nearly 7% decline in bullion prices during October. China's sustained accumulation of gold reflects ongoing efforts to increase its reserves amid evolving global financial conditions.