China reportedly acquired approximately 88 tonnes of gold through the over-the-counter market in May and June, bringing its total reserves to a record 2,366 tonnes. This significant purchase, reported by Cointelegraph, reflects China’s ongoing strategy to bolster its gold holdings amid global economic uncertainties. Analysts note that the unexpected scale of these acquisitions could indicate a strategic effort to hedge against economic volatility. Market projections suggest gold prices could reach $4,700 by August, with a 73.7% probability assigned to this bullish scenario.
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