Gold prices rose modestly on the 24 April after China said it had become the world's fifth largest holder of bullion after secretly increasing its reserves by 75 per cent to 1,054 tonnes since 2003.
Gold added 0.9 per cent at $910.20 a troy ounce, taking its gain over the week to 4.9 per cent. There was talk that China's announcement could prompt a broader reassessment of gold's role as a reserve asset by other central banks.
"The move does send a positive signal to the market, re-igniting gold's relevance as a monetary asset," said Suki Cooper of Barclays Capital.
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