China Digs Deep: Central Bank Boosts Gold Reserves Amid Global Uncertainty

China's official gold purchases accelerated in August 2026, with the People's Bank of China adding approximately 20.2 tonnes to its reserves.

This marked the largest monthly purchase since October 2023 and lifted its officially reported holdings to 2,387 tonnes by the end of the month.

The central bank extended its gold-buying streak to 22 consecutive months, while gold's share of China's total foreign exchange reserves rose to approximately 9%, up from 8% in July.

The World Gold Council attributed this continued accumulation to the central bank's efforts to diversify its reserves and strengthen their resilience amid growing global economic uncertainty and geopolitical tensions.