China’s Central Bank Buys More Gold as Prices Trade Near Record

China’s central bank expanded its gold reserves for a second month in December, signaling renewed appetite after temporarily pausing purchases last year as prices soared.

Bullion held by the People’s Bank of China rose to 73.29 million fine troy ounces in December, from 72.96 million in the previous month, according to data released Tuesday. The central bank resumed adding to its gold reserves in November after a 6-month pause.

The purchase shows the PBOC is still keen to diversify its reserves even with gold at historically expensive levels. The metal’s rally to a record in 2024 was supported by monetary ...