China's central bank increased its gold holdings by 2 tonnes in April, posting their 6th consecutive monthly purchase.
This brings China's gold reserves to a record 2,295 tonnes, or 6.8% of total reserve assets.
According to Goldman Sachs, China actually purchased 27 tonnes of gold in April, or 13 times more than officially reported.
As a result, central bank and other institutional gold demand, excluding the US, hit 68 tonnes.
Year-to-date, central bank demand has reached an average of 88 tonnes per month.
World central banks can't get enough gold.
