China's gold reserve rises in July

China's gold reserve rose 1.16 percent to 1,677.3 tonnes at the end of July from 1,658 tonnes the end of June, fresh data from the People's Bank of China (PBOC) showed. China's gold reserve rose nearly 60 percent to 1,658 tonnes at the end of June from the previous figure released at the end of April 2009, when the amount was 1,054 tonnes. Gold prices have retreated from a historic high in recent years and the central bank gradually accumulated the reserves through various channels, according to the PBOC. The channels include domestic scrap gold, production storage and trade in domestic and overseas markets. China ranks the fifth in gold reserve worldwide after the United States, Germany, Italy and France, according to the World Gold Council.