China Adds Record Gold Holdings as Hong Kong Expands Bullion Hub

China's central bank added 19.9 tonnes of gold to its reserves in July, lifting its total holdings to around 2,366 tonnes.

The increase marked the largest monthly addition since October 2023 and extended the central bank's reported buying streak to 21 straight months.

SAFE valued China's gold reserves at $306.35 billion at the end of July, up from $303.72 billion one month earlier.

The country's foreign currency reserves stood near $3.42 trillion in July.

Hong Kong plans to expand its gold-storage capacity more than tenfold by 2030, with a goal of reaching over 2,000 tonnes.