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China adds most gold to reserves since 2023 as bullion prices surge

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China significantly increased its gold reserves in August, recording its largest single-month purchase since 2023. The country added 650,000 ounces of gold despite bullion prices rising sharply during the period. This reflects a broader trend among large economies, including India, of accumulating gold reserves in recent years. However, India's gold purchases have slowed compared to previous years, while China has moved in the opposite direction.

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