China extends gold buying streak to two years

China’s central bank added 830,000 ounces of gold in October, lifting its reported holdings to 78.30 million ounces and extending its run of monthly purchases to 24 straight months, two full years.

Why it matters: The People’s Bank of China kept buying at a faster pace than in September even as the price fell, so official sector demand remains in place under a metal that has slid from its highs.

Data as of People’s Bank of China and State Administration of Foreign Exchange end-October 2026 reserve figures, released November 7, 2026 in Beijing, as reported by Bloomberg and corroborated by market wire reports read in full in this run; the SAFE reserve table itself was not read directly in this run. Developing item.

China’s gold reserves rose to 78.30 million troy ounces at the end of October, an increase of 830,000 ounces from September, the People’s Bank of China reported on Saturday. The addition, about 25.8 tonnes, is larger than September’s 740,000 ounces and makes October the 24th consecutive month of purchases since the bank resumed buying in November 2024.

The value of the holdings fell to $306.41 billion from $323.52 billion in September, because the gold price dropped over the month even as the quantity rose. China’s total foreign exchange reserves rose about $5 billion in October to about $3.405 trillion.

China extends gold buying streak to two years

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