BREAKING: China's official gold holdings rose 60,000 troy ounces in August, to a record 74.02 million. This marks their 10th consecutive month of purchases. As a result, the People’s Bank of China has increased its gold holdings by 1.22 million troy ounces since November. In Dollar terms, China’s gold reserves hit 253.8 billion in August, an all-time high. Chinese gold holdings now reflect a record 7.6% of China's total official reserve assets. Central banks are still stocking up on gold.(The Kobeissi Letter)