China spent nearly $160 billion to import more than 1,000 tonnes of gold through August, a volume that already surpasses the total imports for all of 2025. The central bank extended its accumulation streak to 23 months, adding 23 tonnes in September alone—its largest monthly purchase since 2023. This surge in buying occurred as gold prices fell 6.57% during September, bringing total official net purchases for 2026 to 103 tonnes.
Tuesday, October 20, 2026
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China Becomes 5th Largest Gold Holder With Record 2,410 Tonnes
Commodities11 days ago
The People's Bank of China has significantly increased its global standing in metal reserves, now trailing only a small group of Western nations in total holdings. Official data shows total reserves reached a record 2,410 tonnes at the end of September, making China the 5th-largest gold holder globally behind the US, Germany, Italy, and France. The current pace of acquisition puts the central bank within reach of Italy's 2,452 tonnes and France's 2,437 tonnes.
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