China thanks the FED. They are stacking the hell out of lower prices

China ramped up its gold purchases in September as bullion prices declined, recording the largest monthly increase in its official reserves in three years, the People’s Bank of China announced on Wednesday.
The central bank increased its gold reserves by 21 tonnes last month to 2,196 tonnes as of the end of September, marking the 23rd consecutive month of purchases, according to the PBoC.
The massive purchase was the largest since September 2023, when reserves rose by 24 tonnes, according to Chinese market tracker Wind Info. It also exceeded the previous months’ purchases of 18.5 tonnes in August and 18 tonnes in July.