China Adds 63 Tons of Gold as Central Banks Increase Reserves

China added a combined 63 tons of gold in July, August and September 2026, extending its reserve-building streak as central banks continued increasing their bullion holdings.

The People’s Bank of China bought 20 tons in July, 20 tons in August and 23 tons in September. The September purchase was China’s largest monthly addition since September 2023 and extended its reserve accumulation streak to 23 consecutive months.

The purchases brought China’s total gold additions for 2026 to 103 tons and lifted its reported holdings to a record 2,410 tons. China is the world’s fifth-largest gold holder, behind the United States, Germany, Italy and France. Italy holds 2,452 tons, while France holds 2,437 tons.

Gold rose to $4,700 per ounce during a mid-August breakout rally before falling to $4,060 in early October. It recovered to $4,194 at the Oct. 9 close.

Global central banks recorded 39 tons of net gold purchases in August, up from 23 tons in July. The National Bank of Poland added 8 tons in August, bringing its 2026 purchases to nearly 100 tons and its total reserves to about 648 tons. Uzbekistan bought 8 tons, while Kazakhstan added 7 tons.

A survey of central banks found that 84% of respondents expected gold to account for a larger share of global reserves in five years.