China's Gold Appetite and Syrian Turmoil Propel Bullion Prices

24.12.09

Gold prices climbed as Chinaโ€™s central bank resumed bullion purchases after a seven-month hiatus, adding 160,000 fine troy ounces to its reserves. The surge was further fueled by heightened geopolitical tensions in Syria, where President Assadโ€™s regime collapsed, potentially destabilizing the Middle East and increasing safe-haven demand for gold.

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