China's central bank, the People's Bank of China (PBOC), has paused its gold acquisition for the second month in a row, maintaining reserves at 72.8 million troy ounces.

This halt concludes an 18-month period of continuous gold purchases that started in November 2022, which had been a factor in driving gold prices to record highs.

The cessation of gold buying marks a significant shift in China's monetary strategy.

During the 18-month buying spree, the PBOC had steadily increased its gold reserves, influencing global market dynamics.

The exact reasons for this pause remain unspecified, but it may indicate a strategic reassessment or financial recalibration.

Gold prices had surged throughout China's buying period, underscoring the importance of PBOC's actions in the global gold market.