China's central bank extends gold buying streak to 23 months

China's central bank added to its gold reserves for a 23rd consecutive month in September, official data released on Wednesday showed, extending a purchase run that has continued through sharp swings in bullion prices this year.

Gold holdings at the People's Bank of China rose to 77.47 million fine troy ounces at the end of September from 76.73 million ounces a month earlier, according to the data. The value of those reserves fell to USD323.52 billion from USD350.08 billion over the same period, as gold prices declined by more than 6 per cent during September.

Spot gold was most recently trading at around USD4,147.47 an ounce on Wednesday at 0244 GMT.

The monthly release reports the central bank's holdings and their valuation, and does not set out its reasons for continuing to buy. September's figures mark the 23rd month in a row in which the stock of official gold has increased, a stretch that has spanned considerable volatility in bullion markets.