China boosts gold reserves for 21st month, reaching 2,366 tonnes

China’s central bank, the People’s Bank of China (PBoC), has continued its gold acquisition streak, increasing its reserves for 21 consecutive months to approximately 2,366 tonnes. The latest addition of 20 tonnes in July 2026 underscores the PBoC’s sustained interest in gold, aligning with recent reports of an acceleration in reserve accumulation since October 2023. This movement places China’s gold holdings at about 8% of its total foreign exchange reserves, as reported by the World Gold Council. The continued buying spree suggests a strategic shift in China’s reserve management, potentially impacting global gold markets. Key Takeaways China’s ongoing gold purchases appear consistent with increased demand, which could influence global prices. The PBoC’s actions suggest a strategic focus on diversifying reserves, with gold playing a significant role. Market pricing suggests participants may view the increased gold buying as supportive of higher gold prices by year’s end. What to Watch Observers will be closely monitoring whether the PBoC continues this aggressive gold acquisition strategy in the coming months. Developments such as geopolitical tensions or shifts in global economic...