China’s central bank added nearly 20 metric tons of gold to its official reserves in July 2026, extending its gold-buying streak to 21 consecutive months, according to official data.
The People’s Bank of China increased its gold holdings by approximately 640,000 ounces, taking total reserves from 75.44 million ounces in June to 76.08 million ounces at the end of July. The monthly addition was equivalent to roughly 19.9 metric tons, marking China’s largest monthly gold purchase since October 2023.
China’s official gold reserves now stand at approximately 2,366 metric tons. The latest increase follows the addition of around 15 tons in June, demonstrating that Beijing continues to steadily increase its exposure to bullion.
The purchases come against a backdrop of heightened geopolitical uncertainty and a broader effort by central banks to diversify their reserve assets. Gold has increasingly attracted attention as governments seek assets that are not directly tied to the financial or monetary policies of another country.
Gold prices have also remained elevated. Following the release of China’s reserve data, spot gold climbed as much as 1.8% to above $4,316 per ounce, reaching its highest level since mid-June.
China is simultaneously seeking to strengthen Hong Kong’s position as an international gold trading and storage hub while expanding its domestic bullion market. Together, these developments suggest that gold remains an increasingly important component of China’s broader financial and reserve strategy.
