PBoC Boosts Gold Reserves by Record 20.2 Tonnes Amid Price Downturn

The People's Bank of China (PBoC) significantly increased its gold reserves by 20.2 metric tonnes in August, marking a substantial monthly gain since October 2023. This purchase elevated the country's total official gold holdings to approximately 2,387 tonnes.

The valuation of China's gold reserves also rose, increasing from $306.35 billion at the end of July to $350.08 billion by the end of August, a notable gain of roughly $43.7 billion in a single month.

This development follows the PBoC's intensified gold buying since the metal's price retreated earlier this year. According to the World Gold Council (WGC), Chinese and Polish central banks continue to lead sovereign buyers in 2026.