PBOC

National Aluminum, SAIL shares surge up to 4% on PBoC’s 50 bps RRR cut

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National Aluminum, SAIL shares surge up to 4% on PBoC’s 50 bps RRR cut

Shares of metal companies like National Aluminium surged 4.7% to its fresh 52-week high of Rs 21.40 while those of SAIL rallied 3.5% to day’s high of Rs 144.20 on the BSE as People’s Bank of China (PCoB) announced that it would cut the amount of cash that banks must hold as reserves (reserve requirement … Read more

China’s central bank refrains from gold purchases for a 2nd month

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China’s central bank refrains from gold purchases for a 2nd month

China’s central bank refrained from gold purchases to its reserves for a second consecutive month in June, official data showed on Sunday. The pause by the People’s Bank of China (PBOC) started in May, when spot gold prices hit a record high. The previous 18 months of consistent buying by the PBOC, along with demand … Read more