中国人民银行黄金储备九连增

Core Viewpoint - The People's Bank of China has increased its gold reserves to 73.96 million ounces as of the end of July, marking the ninth consecutive month of accumulation, although the increase has been at a low level for the past five months [1] Group 1: Gold Reserves and Market Trends - The increase in gold reserves is attributed to a decrease in the necessity for the central bank to pause gold accumulation from a cost control perspective, while the demand for gold accumulation rises from the need to optimize international reserve structure [1] - The global average for gold's share in international reserves is around 15%, while China's gold reserves account for only 7% of its total international reserves as of July 2025, indicating a need for continued accumulation of gold reserves and a moderate reduction in U.S. Treasury holdings [1] Group 2: Future Outlook and Predictions - Citigroup, known for its bearish stance on gold, has shifted to a bullish outlook, raising its three-month gold price forecast from $3,300 to $3,500 per ounce [1] - According to the World Gold Council's latest survey, 95% of central banks surveyed expect an increase in global central bank gold reserves over the next 12 months [1]