China is going for gold like never before.
📈 CHINA'S POSITION ACCELERATES:
According to People's Bank of China (PBOC) data released Oct 7-19:
• September Buy: +740,000 ounces = +23 tonnes — biggest monthly purchase since Sept 2023
• Streak: 23rd consecutive month of buying since Nov 2024
• Total Holdings: 77.47 million ounces = 2,410 tonnes — worth $323.5 Billion
• 2026 total: +103 tonnes bought this year alone — equal to all gold held by South Korea
• Speed: Early 2026 they bought ∼1 tonne/month. In Sept they bought 23x faster.
• Why? After US froze Russia's dollar reserves in 2022, China is dumping US Treasuries (now at 18-year low) and filling gap with gold stored at home — no sanctions risk. Gold share of reserves jumped from 5.5% to 8.5% this year.
Households too: With property crash + weak stocks, Chinese families are buying physical gold as safe haven. China imported over 1,000 tonnes this year ($158.8B spend).
🇺🇸 DONALD TRUMP ON GOLD:
Trump is fueling the story from the US side:
1. Shared strategist Jim Rickards' "Midterm Meltdown" presentation TWICE on Truth Social (July 27 & Aug 24) — Rickards claims Gold could hit $10,000/oz by end of 2026, even $20,000 in extreme crisis
2. His comments on Iran war directly move gold:
• When Trump said US will NOT attack Iran before Nov midterms → Gold fell to $4,052
• When he said peace deal is "over" → Oil spiked to $111.85, Gold crashed 1.3% due to Fed hike fears
Trump's message: Strengthen dollar as China piles into gold.
THE BIG PICTURE:
This is de-dollarization in real time. China + Poland lead world — each added 400+ tonnes since 2021. Central banks bought 39 tonnes in August alone.