China's central bank added 20 tonnes of gold to its reserves in July, according to the World Gold Council. Kitco News reports it as the biggest single-month gain since October 2023, and the buying extends a 21-month streak that lifts China's 2026 total to 60 tonnes, even as overall central-bank gold purchases cooled compared with a year earlier.
China's central bank kept expanding its gold reserves in July, adding 20 tonnes, according to the World Gold Council. Kitco News reports the addition as the biggest monthly purchase since October 2023. The People's Bank of China extended its buying streak to 21 consecutive months. That brought its year-to-date total to 60 tonnes, the World Gold Council reports.
Central banks slow their pace overall
Central banks recorded net purchases of 23 tonnes in July. The year-to-date figure of roughly 130 tonnes trails the 160 tonnes seen over the same period a year earlier. Since May, however, China has conducted double-digit monthly purchases of at least 10 tonnes. Poland led 2026 buying with 90 tonnes after adding 8 tonnes in July. Meanwhile, Russia sold 6 tonnes and Turkey sold 1 tonne during the month.
China's reserves near the top of the pack
China's official gold reserves now stand at around 2,366 tonnes, equal to 8% of its total reserves, making it the sixth-largest reported holder globally. The Bank of Korea separately announced a new allocation of about 2 tonnes through gold-backed ETFs to diversify its reserves. Gold trades at $4,420 at time of writing.
Sources: World Gold Council, Kitco News, The Daily Hodl
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