China’s gold purchases reach 23rd month

China continues to increase its gold reserves for the 23rd consecutive month, adding approximately 740,000 ounces in September 2026, taking advantage of the decline in precious metal prices to strengthen its holdings. These purchases come amid ongoing gold accumulation by China for nearly two years, with total reserves reaching around 2,346.45 tons by June 2026, following an increase of 40.12 tons in the first half of the year. This development coincided with a decline in gold prices of over 6% during September, driven by rising energy costs and asset inflation. Nevertheless, major investment institutions and central banks, including China, continue to turn to gold as a hedge against rising debt levels and market volatility, with expectations that this trend will persist in the future.

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