BREAKING: China’s central bank bought +8 tonnes of gold in April, the most since December 2024. This follows +5 tonnes acquired in March, the 2nd-largest two-month addition since Q1 2024. This also marks their 18th consecutive monthly purchase, bringing total official holdings up to a record 2,322 tonnes. Year-to-date, China’s central bank has bought +15 tonnes of gold, on track for its biggest annual purchase since 2023. Since 2022, the country has officially increased its gold holdings by +372 tonnes, or +19%, making China one of the strongest gold buyers in the world. China is buying the dip in gold.(The Kobeissi Letter)