CommoditiesInstitutional investors sell with rise in US rates, chasing higher returnsThe People's Bank of China has increased its gold reserves for 20 straight months, a record stretch since comparable data began in 1999. (Nikkei montage)MIKI KAMIYAMAJuly 9, 2026 00:40 JSTTOKYO -- Central banks in emerging markets and elsewhere have increased gold purchases as prices fall, in sharp contrast with institutional investors that are selling the precious metal in response to rising U.S. interest rates.