China’s central bank keeps gold reserves at 72.8 million ounces

Data from the Chinese central bank showed that its gold reserves remained stable in August without an increase for the fourth consecutive month, as prices of the yellow metal rose to a record high.

The People’s Bank of China’s gold reserves stabilized at the end of last month at 72.8 million ounces, the same levels recorded since last April, according to Al Arabiya.

The bank had increased its gold stock purchases for 18 consecutive months until April of this year, which helped boost bullion prices.