China keeps adding Gold to its reserves – ING
China expanded its Gold reserves for a sixth straight month in April, ING's commodity experts Ewa Manthey and Warren Patterson note.
PBoC continues to rise its Gold reserves
"Gold held by the People’s Bank of China rose by around 70,000 troy ounces (2 tonnes) last month, with the volumes climbing by close to 1 million ounces (31 tonnes) over the past six months. Overall, central banks reported 17 tonnes of net buying in March. The National Bank of Poland was the largest buyer – and the biggest in 2025 so far. It’s added 49 tonnes of Gold to its reserves, according to World Gold Council data."
"The latest LME COT report released yesterday shows that speculators increased their net long position in copper by 10,003 lots to 74,809 lots for the week ending 2 May. Similarly, net bullish bets for aluminium rose by 9,688 lots to 89,101 lots. This follows eight consecutive weeks of declines."
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FXStreet Insights Team
FXStreet
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