# China's central bank has bought gold for 24 consecutive months. What is its average cost?
I recently compiled data on the gold purchases made by China's central bank over the past 24 months and noticed something quite interesting.
From November 2024 to October 2026, China's central bank increased its gold holdings for 24 consecutive months, adding a total of about 171 tonnes. Based on the amount purchased each month and a weighted calculation using international gold prices, the average cost of this newly acquired gold was approximately 920–925 yuan per gram.
In other words, the central bank didn't make a one-off purchase at a particular peak; it steadily built its holdings over 24 months.
Even more noteworthy, international gold prices pulled back in October, yet the central bank still added about 25.82 tonnes that month.
I think this sends a signal: the central bank's gold purchases may have little to do with short-term price movements and more to do with changes in the global monetary system over the next decade.
Ordinary people worry about paying too much when buying gold; when a central bank buys gold, it's thinking about the security of the country's reserves.
No one can guarantee whether gold will continue to rise in the future. But the trend of central banks around the world steadily increasing their gold reserves is certainly worth watching over the long term.#加密美股齐跌，下轮反弹的驱动力在哪？ $PAXG $XAUT $NVDAB
I recently compiled data on the gold purchases made by China's central bank over the past 24 months and noticed something quite interesting.
From November 2024 to October 2026, China's central bank increased its gold holdings for 24 consecutive months, adding a total of about 171 tonnes. Based on the amount purchased each month and a weighted calculation using international gold prices, the average cost of this newly acquired gold was approximately 920–925 yuan per gram.
In other words, the central bank didn't make a one-off purchase at a particular peak; it steadily built its holdings over 24 months.
Even more noteworthy, international gold prices pulled back in October, yet the central bank still added about 25.82 tonnes that month.
I think this sends a signal: the central bank's gold purchases may have little to do with short-term price movements and more to do with changes in the global monetary system over the next decade.
Ordinary people worry about paying too much when buying gold; when a central bank buys gold, it's thinking about the security of the country's reserves.
No one can guarantee whether gold will continue to rise in the future. But the trend of central banks around the world steadily increasing their gold reserves is certainly worth watching over the long term.#加密美股齐跌，下轮反弹的驱动力在哪？ $PAXG $XAUT $NVDAB
