China Bought 20 Tons of Gold in August, Its Biggest Haul in Nearly Three Years

Crypto Insight Summary: China’s central bank’s gold reserves rose by 650,000 ounces of gold in August, its largest monthly addition since October 2023.  The addition extends Beijing’s buying run to 22 straight months. Purchases sped up while gold posted its strongest monthly gain since January. Beijing Keeps Buying While Prices Run Hot Consecutive months of buying have transformed Crypto Insight Analysis: Direction: Bullish XAU Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: China's sustained gold purchases signal long-term demand, supporting prices.