China’s Central Bank Continues Gold Buying, Reserves Reaches 74.12 Million Troy Ounces

China has continued its steady accumulation of gold, adding another 30,000 troy ounces in the latest month and extending its uninterrupted buying run to 13 months, as per the news reports.  

The move lifts the People’s Bank of China’s gold reserves to 74.12 million troy ounces amid strong global interest in the metal. 

China’s Ongoing Gold Accumulation 

The People’s Bank of China began its current buying cycle in November 2024 and has consistently grown its bullion stockpile month after month. The recent addition of 30,000 troy ounces marks another step in a strategy that aligns with rising global central-bank purchases, especially after geopolitical shifts. 

Gold prices remain above $4,000 per ounce and are heading for their strongest yearly performance since 1979, supported by expectations of US Federal Reserve rate cuts during the December 9–10 meeting and market anticipation of a more dovish leadership ahead. 

Global Central-Bank Buying Momentum 

According to the World Gold Council, central bank demand strengthened again in October after a slowdown earlier in the year.  

The trend has been shaped by efforts from multiple countries to diversify away from dollar exposure following events such as Russia’s invasion of Ukraine and the freezing of its overseas reserves.  

China has also begun offering foreign central banks the option to store gold within the country, with Cambodia among the early participants. 

Read More: Russia’s Sberbank Launches First-India Mutual Fund for Russian Investors! 

Conclusion 

China’s expanding gold reserves underline a broader shift in global reserve management as central banks deepen their interest in the metal. With gold staying firm above $4,000 per ounce and policy expectations in focus, accumulation trends may continue shaping bullion markets in the months ahead. 

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