Saturday, October 31, 2026

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

The Red Cloud Fall Mining Showcase 2026 | Day 1

Can an Old Irish Mine Recover the Silver It Left Behind? | Julian Vickers – Northmin Corporation

Is Gold at $4,000 a Buy Zone or a Breakdown? | David Morgan

Recommended

Mercado Minerals Lengthens El Triunfo Vein by 190 Metres, Readies 1,500-Metre Zamora Drill Program

Blue Jay Gold Signs Ocean Partners Deal to Ship Steller Stockpiles Through 2027

Related News

Goldman Sachs Upgrades Gold Price Forecast in Light of Growing Demand

Goldman Sachs has upgraded its gold price forecast for the current year, citing a shift...

Wednesday, March 9, 2022, 03:09:00 PM

South Korea Mint Suspends Gold Sales as Prices Hit Record

Trading volumes jump as global markets tighten...
Wednesday, February 12, 2025, 10:24:00 AM

Blackrock Gold Conducts $7.0 Million Bought Deal Financing

Blackrock Gold (TSXV: BRC) is the latest firm to announce a financing this morning. The...

Friday, January 29, 2021, 08:42:25 AM

Maritime Resources Announces 40,000 Metre Drill Program At Hammerdown

Maritime Resources Corp. (TSXV: MAE) announced today that it has initiated a fully funded, expanded...

Wednesday, June 2, 2021, 09:32:04 AM

$10,000 Gold Is Just A Question of Time | Florian Grummes

Florian Grummes from Midas Touch Consulting takes us through what’s keeping the gold market so...

Monday, August 25, 2025, 02:55:00 PM