Commodities Buzz: China?s gold holdings hit $283 billion; FX reserves rise to $3.34 trillion

China?s foreign exchange reserves rose by $16.5 billion, or 0.5%, to $3.339 trillion in September, marking the highest level since November 2015. The rise came as the dollar weakened and the yuan appreciated about 0.1%. The People?s Bank of China continued its gold buying spree for the eleventh consecutive month, with holdings increasing to 74.06 million ounces, valued at $283 billion, up from $254 billion in August. The steady accumulation of gold and the weaker dollar together boosted the overall value of China?s reserves, reflecting Beijing?s ongoing efforts to diversify its assets and strengthen financial stability.

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