OREANDA-NEWS  The People's Bank of China has been buying gold for 23 months in a row, importing it in greater volume than ever before. This was reported by CNBC.

According to him, this policy is dictated by Beijing's desire to reduce dependence on the dollar, and is also due to the fact that Chinese households do not have reliable alternatives in an unstable economy.

According to the State Administration of Currency Control, the People's Bank of China increased its purchases by about 23 tons in September, which was the largest monthly purchase volume in almost three years and extended the longest series of purchases since at least 2015.