China’s central bank increased its official gold holdings by 320,000 troy ounces last month, bringing total gold reserves to 74.96 million ounces, according to data released on Sunday.

State Administration of Foreign Exchange data showed China’s foreign exchange reserves rose by $31.7 billion, or 0.93%, to $3.4422 trillion by the end of May.

Separate market data cited alongside the release showed bullion prices declined in May, marking a third consecutive monthly fall after reaching a record high in late January.