China purchases gold for 22nd month

China continued its gold purchases for the twenty-first consecutive month in August 2026, increasing its reserves to 76.73 million ounces, with an addition of 650,000 ounces compared to the previous month—the largest increase since October 2023. This comes amid a surge in global central bank gold purchases, which reached 289 tons in the second quarter of 2026, the highest level for a second quarter on record. Additionally, China's foreign exchange reserves rose to $3.438 trillion, driven by a declining US dollar index and changes in asset prices, reflecting a strategic move by Beijing to bolster its reserves amidst economic and geopolitical uncertainty.

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