China’s central bank has increased its gold holdings for 24 consecutive months, bringing official reserves to 78.3 million ounces; foreign exchange reserves remain above $3.4 trillion for seven months

China reported foreign exchange reserves of $3.4052 trillion at the end of October, up $4.9 billion from September. Official gold reserves increased by 830,000 ounces to 78.3 million ounces, extending the monthly buying streak to 24 months; valuation changes in currencies and assets contributed to the rise in foreign reserves.