央行连续六个月增持黄金，专家：国际金价或长时间内易涨难跌

Core Viewpoint - As of April 2025, China's foreign exchange reserves reached $328.17 billion, an increase of $41 billion from March, reflecting a 1.27% rise, driven by macroeconomic policies and expectations of economic growth in major economies [1][2] Group 1: Foreign Exchange Reserves - The increase in foreign exchange reserves is attributed to a decline in the US dollar index, which fell approximately 4.4% in April due to rising recession expectations in the US, leading to capital flowing into non-US markets [1][2] - The estimated impact of the dollar's decline on foreign reserves is around $50 billion, despite some downward pressure on asset valuations due to volatility in global capital markets [1][2] Group 2: Gold Reserves - China's gold reserves stood at 7.377 million ounces at the end of April, with an increase of 70,000 ounces, marking the sixth consecutive month of gold accumulation [2][3] - The central bank's continued purchase of gold is influenced by rising international gold prices and the need to optimize the structure of international reserves, as the current gold reserve proportion is significantly below the global average of around 15% [3]