China’s central bank buys gold for 12th straight month

China’s gold holdings increased to 74.09 million fine troy ounces at the end of October from 74.06 million in the previous month, as the central bank extended a bullion buying spree to the 12th consecutive month.

China’s gold reserves were valued at $297.21 billion at the end of last month versus $283.29 billion before, data from the People’s Bank of China showed on Friday.

(By Qiaoyi Li and Ryan Woo; Editing by Christian Schmollinger)