China’s Central Bank Extends Gold-Buying Streak as Prices Stay Weak

China’s central bank extended its gold-buying streak in May, adding to holdings as prices of the precious metal remained under pressure.

Bullion held by the People’s Bank of China rose by 320,000 troy ounces last month, according to data released on Sunday. The latest addition extended its buying streak to 19 months, the longest since at least 2015, when the PBOC began publishing more regular updates on its gold reserves.