Gold glitters again as central banks stock up

SHANGHAI: Central banks’ gold reserves around the world have broadly risen over the past 12 months to combat various market headwinds such as inflation or volatility, with the trend set to continue this year, industry experts say.

The People’s Bank of China (PBoC), the country’s central bank, added 970,000 ounces of gold holdings in December, according to the bank’s latest data. Its total gold reserves stand at 64.64 million ounces after the latest purchases.