China’s Gold Buying Spree Accelerates as Central Banks Keep Stockpiling Bullion

China has accelerated its gold accumulation spree again, with its streak lasting almost two years straight. The Asian country has added another 23 tonnes of gold to its reserves in September, which became its largest monthly purchase in roughly three years. Other central banks, including those from Poland, Uzbekistan, and Kazakhstan, have been accumulating the precious metal as well in substantial portions over the year. China Keeps Buying Gold The Kobeissi Letter highlighted over the weekend that the People’s Bank of China purchased approximately 23 tonnes of gold in September, beating its previous 2026 record in terms of monthly purchases. This marked its 23rd consecutive month of buying and followed additions of roughly 20 tonnes in both July and August. The world’s most populous country has bought more than 100 tonnes of the bullion in 2026, and its reported reserves have skyrocketed to 2,410 tonnes. China has become the fifth-largest gold holder, trailing the US, Germany, Italy, and France. However, the analysts at the Kobeissi Letter said China is likely to surpass Italy and France as early as this year at this pace, as both European nations hold 2,452 tonnes and 2,437 tonnes...