China's gold reserves at the end of March reached 72.74 million ounces, a monthly increase of 160,000 ounces, marking the 17th consecutive month for the country to increase holdings of this asset, the People's Bank of China (PBOC), the central bank, announced on Sunday, as China moves to optimize and diversify its foreign reserves. Observers said that the growing holdings showed the central bank's continuous emphasis on the traditional safe-haven asset as well as the country's financial security amid increased uncertainty in global markets. The major reason for China to increase its gold holdings is the uncertainty ... (full story)