China Adds 25.8 Tonnes of Gold to Reserves in October

China’s central bank, the People’s Bank of China (PBOC), added 25.8 metric tonnes of gold—about 830,000 ounces—to its reserves in October 2026. Data released by the State Administration of Foreign Exchange on 7 November confirmed a 24th consecutive month of purchases.

Reserve holdings and central-bank demand

China’s holdings reached 78.30 million troy ounces at the end of October, up from 77.47 million in September. The October addition was the largest monthly increase since September 2023, while purchases from January to October totalled about 129 tonnes. The value of the reserves fell from US323.52 billion to US306.41 billion as international gold prices dropped nearly 7% during October, falling below US$4,000 per ounce.

The World Gold Council reported that central banks made net purchases of 321 tonnes in the third quarter of 2026, the highest quarterly total since Q4 2024. China was the largest publicly reported buyer, adding 63 tonnes. Analysts describe China’s ongoing accumulation as part of a strategy to diversify reserve assets and reduce reliance on the US dollar amid economic and geopolitical uncertainty.

Important Facts for Exams

• Reserve role: Gold reserves have served as redemption backing and a store of value, and can also support a national currency’s value.
• Storage and audit caveat: Reported national gold holdings do not necessarily indicate where the metal is stored; limited independent audits and leasing can cloud reported totals.
• Official reporting: The IMF compiles national asset statistics from country reports, which the World Gold Council uses to rank and report official gold holdings.