China's gold reserves grow for 8th straight month

BEIJING, Aug. 7 (Xinhua) -- China's gold reserves rose for an eighth straight month in July, the central bank said Wednesday.

Gold reserves stood at 62.26 million ounces in July, up 320,000 ounces month on month, data from the People's Bank of China showed.

The reserves were valued at 88.88 billion U.S. dollars at the end of July, compared with 87.27 billion U.S. dollars at the end of June.

As the world's biggest producer and main consumer of gold, China's holdings of gold make up a small percentage of its total foreign exchange reserves.

China's foreign exchange reserves stood at 3.1 trillion U.S. dollars at the end of July, official data showed.