N環球 
China's central bank buys gold for 23rd straight month, biggest addition in three years
The PBOC said on Oct. 7 its gold reserves reached 77.47 million fine troy ounces at end-September, up 740,000 ounces from August — the 23rd consecutive monthly increase. FX reserves stood at $3.4003 trillion, down $38.1 billion on the month.
Why it matters
The People's Bank of China said on Wednesday (Oct. 7) that its gold reserves stood at 77.47 million fine troy ounces at the end of September, up 740,000 ounces (about 23 tonnes) from August — the 23rd consecutive monthly increase and the largest single-month addition since September 2023.
Full report
The pace of buying has accelerated: August's addition was 650,000 ounces and July's 640,000 ounces. Market tracker Wind Info data show September was the biggest monthly purchase in the current buying cycle that began in November 2024. International gold prices fell 6.52% in September, and the central bank bought into the dip.
Separately, the State Administration of Foreign Exchange said China's FX reserves totalled $3.4003 trillion at end-September, down $38.1 billion, or 1.11%, from August. SAFE attributed the decline to currency-translation effects from a stronger U.S. dollar and falling global asset prices, adding that China's economy remains broadly stable with new growth drivers gaining strength.
World Gold Council data show China and Poland leading sovereign gold buyers in 2026; central banks reported 170 tonnes of net buying through August.
What's next
A continued purchase in October would mark a 24th straight month; the data are due in early November.
💬 Comments
No comments yet. Be the first!