China adds to gold reserves - Growing at the fastest pace since October 2023
China's central bank increased gold purchases for the fifth consecutive month in July, adding more bullion to its reserves since October 2023, official data showed.
The People's Bank of China extended its gold purchases for the 21st consecutive month, with reserves rising to 76.08 million ounces at the end of July from 75.44 million a month earlier. The 640,000-ounce increase, equivalent to nearly 20 tons, was the largest monthly addition since October 2023, when reserves rose by 740,000 ounces.
The People's Bank of China added 480,000 ounces in June, the biggest monthly gain since October 2023 at the time. The pace of purchases has increased every month since March, when the central bank added 160,000 ounces. The value of China's gold reserves rose to $306.35 billion at the end of July from $303.72 billion a month earlier, the data showed.
Gold prices rose 0.84% in July, snapping four straight months of declines and posting their biggest monthly gain since February. The gains were supported by softer U.S. inflation data and a drop in oil prices during the month, which prompted traders to trim expectations for further interest rate hikes by the Federal Reserve.
Gold in spot markets recently traded above $4,310 per ounce.
IHP measures risk factors for chronic diseases - Prevention, less cost for health and the economy
Albania will conduct a new national survey to measure the main risk factors associated with noncommunicable diseases. Through the World Health Organization's......
How have municipal revenues changed in 10 years? - Taxes that account for the main share in local budgets
Municipalities have significantly increased their revenues over the past decade. During the ten-year period 2015–2025, the fiscal performance of local......
Industrial clusters, the new model for attracting investments - The strategy aims to integrate local businesses into global supply chains
The government has approved another measure within the framework of the Business Development and Investment Strategy 2021–2027, which aims to create a......
441 million lek for road maintenance - ARRSH announces winners for three regions, bids 7% lower than the fund limit
The Albanian Road Authority has announced the winners of 3 procurement procedures for the performance maintenance of the main road axes in the country, for......
Gaza, the first military base with Moroccans - Implementation of Trump's Peace Board plan begins
The Peace Board has awarded the first contract for the construction of a military base in the Gaza Strip, which aims to house a force of around 150 Moroccan......
In the capital or on the coast? - Study shows the safest areas for rental income in Albania
Investing in real estate is not always about the highest return. For many buyers, especially those buying their first apartment to rent out, what matters......
Instagram, the first choice of young people in Albania - Men lead with the highest number of users
Facebook continues to be the social network with the largest number of users in Albania, while Instagram is increasingly strengthening its position,......
Improvement of road axes in 12 regions - ADF opens tenders worth 2.5 billion lek, aiming to improve access
With a fund limit of 2.5 billion lek, the Albanian Development Fund has opened two procurement procedures for the improvement of road axes in 12 regions of......
