Chinese Gold Reserves at 74.64mln troy oz at end-April (prev. 74.38mln in March); extends gold buying streak to 18 months

China's continued accumulation of gold reserves, now reaching 74.64 million troy ounces, reinforces a robust demand trend that has extended for 18 months. This consistent buying may support gold prices as it reflects a strategic shift towards bolstering reserves, particularly amid uncertain economic conditions. Traders should consider potential upward pressure on gold, as well as implications for related currencies and commodities.