The People’s Bank of China (PBoC) has continued its gold acquisition streak for the 21st consecutive month, bringing its reserves to approximately 2,366 tonnes. The latest addition of 20 tonnes in July 2026 underscores the central bank’s sustained interest in gold amid an acceleration in reserve accumulation since October 2023. This strategy puts China’s gold holdings at about 8% of its total foreign exchange reserves, according to the World Gold Council. The continued buying spree suggests a strategic shift in China’s reserve management, with potential consequences for global gold markets.
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