China just bought 23 tonnes of gold in September—their biggest monthly haul since September 2023.
That's three straight months of +20 tonnes purchases. They haven't stopped buying for 23 months in a row.
103 tonnes added so far in 2026. Total holdings now at a record 2,410 tonnes, making them the world's 5th-largest holder behind the US, Germany, Italy, and France.
At this pace? They could leapfrog both Italy (2,452 tonnes) and France (2,437 tonnes) before year-end.
While gold prices pulled back, China kept buying. When central banks stack this aggressively, it's not speculation—it's strategic reserve building.
This matters for currency stability, trade settlement, and long-term confidence in the yuan. Watch what central banks do, not what they say.
That's three straight months of +20 tonnes purchases. They haven't stopped buying for 23 months in a row.
103 tonnes added so far in 2026. Total holdings now at a record 2,410 tonnes, making them the world's 5th-largest holder behind the US, Germany, Italy, and France.
At this pace? They could leapfrog both Italy (2,452 tonnes) and France (2,437 tonnes) before year-end.
While gold prices pulled back, China kept buying. When central banks stack this aggressively, it's not speculation—it's strategic reserve building.
This matters for currency stability, trade settlement, and long-term confidence in the yuan. Watch what central banks do, not what they say.