Data from China over the weekend showed the PBOC didn’t buy and gold in June, after buying none in May.
The two consecutive month pause comes after the Bank had been a consistent buyer in the 18 months prior.
China held 72.80 million troy ounces of gold at the end of June, same as the end of May.
Its seems the Bank is awaiting a further pull back in price before jumping back on the bid.
This article was written by Eamonn Sheridan at www.forexlive.com. Source