April marked the sixth consecutive month in which China increased its gold reserves amid a record rise in the price of the precious metal

China's central bank has reported an increase in gold reserves for the sixth consecutive month, reaching 73.77 million ounces with a total value of 243.59 billion dollars. Increased demand for gold, fueled by trade uncertainties, has prompted central banks to diversify reserves, but China remains below the global average of 20% in gold. Analysts estimate it would take China about three years to reach that level, maintaining a purchasing pace of 40 tons a month.