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2026-11-07T16:07:23.414Z

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China Gold Streak Hits 24

China Gold Streak Hits 24

China’s central bank continued buying gold for the 24th consecutive month, adding around 25.8 tonnes to its reserves in October and bringing its purchases in the first ten months of the year to about 129 tonnes. The buying continued despite gold falling roughly 7% during the month and closing below $4,000 an ounce. Meanwhile, central banks worldwide made net purchases of 321 tonnes in the third quarter. Rising energy prices, inflationary pressures and expectations of tighter monetary policy weighed on gold, while consumers in China flocked to buy it as prices approached $4,000 an ounce.

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