China’s central bank added to its Gold reserves for a second month in December, ING’s commodity analyst Ewa Manthey and Warren Patterson note.

PBoC buys more gold in December

“Gold held by the People’s Bank of China rose to 73.29 million troy ounces in December, from 72.96 million in the previous month.”

“The central bank resumed adding to its Gold reserves in November after a six-month pause. The purchase by the central bank comes even with Gold prices near record levels”