China Boosts Gold Reserves to 2366 Tonnes for 21st Straight Month

China's central bank, the People's Bank of China (PBoC), has continued its gold acquisition streak, increasing its reserves for the 21st consecutive month to approximately 2,366 tonnes. The latest addition of 20 tonnes in July 2026 underscores the PBoC's sustained interest in gold, aligning with recent reports of an acceleration in reserve accumulation since October 2023.

This movement places China's gold holdings at about 8% of its total foreign exchange reserves, as reported by the World Gold Council. The continued buying spree suggests a strategic shift in China's reserve management, potentially impacting global gold markets.

The PBoC's actions suggest a focus on diversifying reserves, with gold playing a significant role. Market pricing indicates that participants may view the increased gold buying as supportive of higher gold prices by year's end.