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Gold’s Price Rises as the Chinese Central Bank Resumes Bullion Purchases

The price of gold rose by nearly 1% after the People’s Bank of China added gold to its reserves for the first time in more than 6 months. In the same period, the Bloomberg Dollar Spot Index remained steady while spot gold saw its price hit $2656.72 per ounce, representing a 0.9% increase.

Silver, palladium, and platinum also recorded strong gains in…

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