The People’s Bank of China (PBOC) reported its largest monthly increase in gold reserves in more than two and a half years in June, even as bullion prices suffered their steepest monthly drop since October 2008, according to official data released Tuesday. China’s central bank maintained gold purchases for a 20th consecutive month, raising reserves to 75.44 million fine troy ounces by the end of June, up from 74.96 million ounces in May, data from the PBOC showed. The 480,000-ounce addition, equivalent to roughly 15 metric tons, marked the biggest monthly gain since October 2023, when holdings rose by 740,000…
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