Core Viewpoint - China's foreign exchange reserves have increased, with the central bank continuously adding to its gold reserves for eight consecutive months [1][3]. Group 1: Foreign Exchange Reserves - As of June 2025, China's foreign exchange reserves reached 33,174 billion USD, an increase of 3.22 billion USD from the end of May, marking a rise of 0.98% [1]. - The foreign exchange reserves have remained above 32,000 billion USD for 19 consecutive months and have shown a month-on-month increase for six months [1][3]. - In the first half of 2025, China's foreign exchange reserves increased by 66.79 million USD, 1.82 billion USD, 1.3441 billion USD, 4.1 billion USD, 360 million USD, and 3.22 billion USD respectively [3]. Group 2: Gold Reserves - The central bank's gold reserves stood at 7,390 million ounces (approximately 2,298.55 tons) at the end of June, with a month-on-month increase of 70,000 ounces (approximately 2.18 tons) [1]. - The global demand for gold has seen a surge, with central banks net purchasing 244 tons in the first quarter of 2025, despite a slight slowdown compared to the previous quarter [5]. Group 3: Market Dynamics - The gold market is experiencing volatility, with mixed sentiments among investors due to ongoing tariff negotiations and delayed expectations for interest rate cuts by the Federal Reserve [6][7]. - Analysts predict that the Federal Reserve may continue to delay interest rate cuts, which could negatively impact gold prices, while the demand for gold as a safe-haven asset remains strong amid fluctuating U.S. policies [7][8]. - HSBC has raised its average gold price forecast for 2025 from 3,015 USD to 3,215 USD per ounce, while Citigroup has a bearish outlook, expecting prices to drop to between 2,500 and 2,700 USD per ounce by the second quarter of 2026 [7][8].
央行重磅!继续狂买
中国基金报·2025-07-07 08:59