China Shatters Gold Import Record in 2026
China's gold imports have reached a record-breaking high of over 1,000 tonnes through August 2026, according to data from China's General Administration of Customs. This surpasses the country's total gold imports in all of 2025, which stood at 866 tonnes worth around $96.5 billion.
The rapid increase in gold imports has been attributed to a combination of factors, including onshore prices trading at a premium to the world benchmark and Chinese buyers stepping in at scale due to the correction in gold prices from January's record high. Analysts point out that this premium pulls more metal into the country and rewards anyone licensed to import it.
The People's Bank of China (PBoC) has added around 80 tonnes to its own reserves over the same eight months, but even this figure may underestimate the true extent of official buying. The PBoC's August addition was a notable 20 tonnes, its largest single-month increase since 2023.
The surge in gold imports is seen as a price signal rather than a central-bank buying decision. Gold has been trading near $4,358 an ounce and silver near $67.09, both higher on the day.