BLBG; China’s Gold Reserves Unchanged in June, Central Bank Says
July 15 (Bloomberg) -- China said its gold reserves were unchanged in June compared with April, according to a statement from the central bank.
The People’s Bank of China held 33.89 million fine troy ounces of gold on June 30, the bank said in a statement on its Web site today. The holdings are equivalent to 1,054 metric tons, Duan Shihua, senior analyst at Nanhua Futures Institute, said by phone from Shanghai.
China has boosted its gold reserves by 76 percent since 2003 and has the world’s fifth-largest holding by country, the State Administration of Foreign Exchange said on April 24. The nation increased its reserves by 454 tons to 1,054 tons during that period, even as the reported level of Chinese gold reserves didn’t change from January 2003 to April this year.
Gold climbed to a record $1,032.70 an ounce on March 17 last year and was little changed today at $926.03 an ounce at 11:30 a.m. local time in Singapore.
China’s foreign-exchange reserves topped $2 trillion for the first time, the central bank said in today’s statement. The reserves rose a record $178 billion in the second quarter to $2.132 trillion. That compares with a $7.7 billion gain in the previous three months.
