China Adds Record Gold Reserves for 22nd Month Running

China's gold reserves continue to grow, with the central bank adding 20.2 tonnes of gold in August, marking its largest monthly purchase since October 2023. The People's Bank of China (PBOC) lifted its gold holdings to 76.73M ounces at the end of August.

This buying streak now stands at 22 months, with China's central bank increasing its gold reserves for the 22nd consecutive month. This significant investment in gold is a sign of confidence in the precious metal as a safe-haven asset and store of value.

The iShares China Large-Cap ETF (FXI) may be impacted by this development, as it tracks the performance of the Chinese market.