China's Central Bank Accelerates Gold Purchases for 21st Straight Month

The People's Bank of China has continued to increase its gold reserves for the 21st consecutive month. As of the end of July 2026, the bank held 76.08 million ounces of gold reserves, an increase of 6.4 million ounces from the end of June.

This marks a significant acceleration in gold purchases, with the monthly addition exceeding June's 4.8 million ounces. The pace of buying is notable given that international gold prices have recently regained strength, briefly surpassing USD 4,300 per ounce this week, the highest level since June.

Foreign exchange reserves stood at USD 3.4188 trillion as of the end of July 2026, up by USD 2.5 billion or 0.07% from the end of June. While foreign exchange reserves saw only marginal changes, China's gold reserves continued to grow.