China's gold reserves increase for a sixth consecutive month – Xinhua

BEIJING, June 10 (Xinhua) – China's gold reserves rose for a sixth consecutive month in May, the central bank said on Monday.

Gold reserves stood at 61.61 million ounces last month, up 510,000 ounces from April, according to a statement from the People's Bank of China.

Reserves were valued at US $ 79.83 billion at the end of May, compared with US $ 78.35 billion at the end of April.

While China is the largest gold producer in the world, its holdings represent only a small percentage of its foreign exchange reserves.

China's official foreign exchange reserves edged up 0.2% month-on-month to US $ 3.101 billion at the end of May, official data showed.