The latest report from the World Gold Council shows that the demand for physical gold and the inflow of funds into gold ETFs in China surged in January, while the gold reserves of the People's Bank of China continue to increase.

The highlight lies in the amount of gold withdrawn from the Shanghai Gold Exchange (SGE), record capital flow into gold ETFs in China at the beginning of the year, and the People's Bank of China announcing additional gold purchases, reflecting the trend of accumulation amidst volatility in traditional assets and cryptocurrencies.

MAIN CONTENT

  • Gold withdrawn from SGE in January reached 126 tons, an increase year-on-year and month-on-month.

  • Chinese gold ETFs attracted 44 billion RMB (approximately 6.2B USD), equivalent to 38 tons.

  • PBoC increased gold reserves by 1.2 tons to 2,308 tons, accounting for 9.6% of foreign exchange reserves.

January: The demand for physical gold in China remains strong

Gold outflows from the Shanghai Gold Exchange (SGE) in January reached 126 tons, an increase of 1 ton compared to the same period last year and an increase of 11 tons from the previous month.

The Monthly Review of the Chinese Gold Market report indicates that upstream demand remains strong, supported by high gold bar sales and additional inventory activities from jewelry dealers before the Lunar New Year.

The month-on-month increase (11 tons) indicates short-term buying pressure before the holiday season, while the year-on-year increase (1 ton) reflects stable underlying demand. This data focuses on physical gold, separate from the fluctuations in the cryptocurrency market.

ETFs and reserves: Record cash flow, central banks purchase more

In January, net inflows into gold ETFs in China reached 44 billion RMB (approximately 6.2B USD), equivalent to 38 tons; AUM and total holdings both reached historical records.

The World Gold Council reported that this is a record high for the early year period, showing strong demand for exposure to gold through funds alongside physical gold.

At the central bank level, in 2026, the People's Bank of China continued to announce gold purchases, raising reserves by an additional 1.2 tons to 2,308 tons, equivalent to 9.6% of total foreign exchange reserves.

Source: https://tintucbitcoin.com/etf-vang-trung-quoc-hut-44-ty-ndt/

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