China rapidly increasing its gold reserves

Baku. 17 July. REPORT.AZ/ Since 2009, China announced its official gold reserves for the first time. China's gold reserves stood at 53.31 million troy ounces by the end of June, 

Report informs. According to the official data from the Central Bank of China, China's gold reserves stood at 33.89 million troy ounces at the end of May 2015. In other words, China increased its gold reserves by 19.42 million troy ounces or 57.3%.

Though China is known as the most gold buying country in the world, the amount of its gold reserve was not declared. Despite buying such a high amount of gold by China, the current price of gold (1 140 dollars / ounce) is in its lowest level since 2010.