China buying twice more gold than officially reported amid surge in central bank purchases

China has reportedly purchased more gold than officially recorded, according to ZeroHedge. The report indicates that in July, central banks globally bought 44 tonnes of gold, with China leading by acquiring 35 tonnes through undisclosed channels. This discrepancy suggests China’s gold acquisition is more aggressive than its official statements, with implications for global gold markets. The People’s Bank of China (PBOC) has been consistently increasing its gold reserves, officially adding about 20 tonnes in July. This aligns with a broader trend of central banks accumulating gold, as reported by the World Gold Council. Market analysts are closely monitoring these developments, as the additional gold purchases by China could indicate a strategic shift in reserve management, potentially influencing future gold price movements. In prediction markets, the possibility of gold reaching $15,000 by the end of December 2026 remains low, currently priced at around 0.4% YES. However, the report of China’s increased gold acquisition may indicate rising demand that could support higher gold prices in the future. Market participants appear to be weighing these factors, as evidenced by the slight...