Gold Falls Nearly 3% Following China’s Central Bank Failing To Add To Reserves In May

China’s central bank has stopped its buying spree of gold. The People’s Bank of China has indicated that its bullion holdings are unchanged as of the end of May, signaling the end of what was an 18 month long buying spree of the yellow metal.

The People’s Bank had been aggressively acquiring gold since November 2022, leading to purchases of the metal by other central banks as geopolitical tensions rise.

The price of gold has slumped in response to the news, falling by over $67 per ounce to $2,307, a decline of nearly 3.0%.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Tungsten Went 6X. I Went to See the Deposit Time Forgot | DD-on-the-GO! – Rackla Metals Inc

The World’s Largest Undeveloped Gold Project Nears a Deal | Rudi Fronk – Seabridge Gold

One of the World’s Biggest Copper Mines Could Reopen Just to Shut Down | First Quantum

Recommended

First Majestic Produces 3.4 Million Ounces of Silver in Q3 2026, Jerritt Canyon Restart Remains on Track

Altamira Gold Drills 134 Metres of 0.5 g/t Gold at Maria Bonita, Hole Ends in Mineralization

Related News

Kingman Minerals Begins Exploration Programs in The Historic Rosebud Mine

This morning Kingman Minerals (TSXV: KGS) announced the completion of two phases of underground exploration...

Friday, May 8, 2020, 09:12:24 AM

Gold Hits New High Of $2,146, Bitcoin And Silver Join The Rally

The price of gold continued its tear this evening, opening the futures market at $2,071,...

Sunday, December 3, 2023, 06:52:40 PM

Gold Demand Hits Record Value in Q1 as China Hoards, Turkey Sells

Global gold demand reached a record US$193 billion in the first quarter of 2026, driven...

Wednesday, April 29, 2026, 03:02:45 AM

Search Interest For Gold Soars 64% in One Week as Recession Fears Mount

Google searches for “buy gold” have surged by nearly 64% in just one week. This...

Wednesday, August 7, 2024, 11:36:00 AM

Gold Surges On Recession Fears As Analysts Call For $4,000 Target

Gold prices have surged to record highs, with major financial institutions forecasting further gains as...

Tuesday, April 15, 2025, 02:12:00 PM