The country’s behemoth iron ore miners ended the year on a high as China’s abrupt Covid Zero reversal and a steady stream of supportive policies raised the outlook for demand.
The People's Bank of China on Saturday called for the strengthening of real estate policy in light of sluggish economic growth over the past several years.
"With inflation close to being in line with expectations, gold prices were higher on fresh speculative buying ahead of the new year on bets that the bigger funds might move to the long side of gold."