【新华解读】8月外储余额环比升近1% 金价反弹央行继续小幅购金

Core Viewpoint - As of the end of August, China's foreign exchange reserves reached a record high of $3.3222 trillion, marking a 0.91% increase from the previous month, while the country continued to increase its gold reserves for the tenth consecutive month, adding 60,000 ounces to reach 74.02 million ounces [1][4]. Foreign Exchange Reserves - China's foreign exchange reserves increased by $29.9 billion in August, recovering from a brief decline in July and continuing the upward trend observed in the first half of the year [1][2]. - The increase in reserves is attributed to the depreciation of the US dollar, which fell by 2.2% to an index of 97.8, leading to appreciation of non-USD currencies and a positive valuation effect on global financial assets [2][3]. - The average daily foreign exchange trading volume in the domestic interbank market reached $39.9 billion, the highest in three months, indicating stable market expectations for the exchange rate [3]. Gold Reserves - China's gold reserves increased by $9.9 billion to $253.8 billion, with the proportion of gold reserves to total foreign exchange reserves rising to 7.64%, a historical high [4][5]. - The increase in gold prices, which rose by 3.9% in August, reflects a broader trend of central banks globally diversifying their reserve assets amid geopolitical uncertainties and fluctuating US policies [6][7]. - Analysts predict that China will continue to increase its gold holdings to optimize its international reserve structure, as the current gold proportion remains below the global average of around 15% [7][8].