The People's Bank of China increased its gold holdings for the second consecutive month, with foreign exchange reserves decreasing by 1.94% month-on-month in December
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In December 2024, the People's Bank of China increased its gold reserves for the second consecutive month, reaching 73.29 million ounces, an increase from 72.96 million ounces in November. At the same time, the foreign exchange reserves stood at USD 3202.36 billion, a decrease of USD 63.5 billion from November, representing a decline of 1.94%. The State Administration of Foreign Exchange pointed out that the rise in the US dollar index and the decline in global financial asset prices are the main reasons for the decrease in foreign exchange reserves
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