Business · Markets · 1 day ago
China’s central bank adds 25.8 tonnes of gold in October
China’s central bank added 25.8 tonnes of gold in October, according to official figures released on Saturday.
The People’s Bank of China has now bought gold every month for 24 months, continuing to build its reserves despite falling prices.
Gold fell nearly 7% in October and ended the month below $4,000 an ounce.
The October purchase brought China’s gold buying for the first 10 months of 2026 to about 129 tonnes.
Central banks bought a net 321 tonnes in the third quarter, with China the largest publicly reported buyer, according to World Gold Council data.
The buying may support gold prices, although it does not guarantee that prices will rise.
China’s November reserve figures are expected in early December, and markets will watch to see whether the buying streak continues.
China’s central bank added 830,000 ounces, or about 25.8 tonnes, of gold to its reserves in October.
The purchase extended its uninterrupted buying streak to 24 months, or two years.
The bank’s gold reserves rose to 78.30 million ounces, according to data released on November 7.
China added about 129 tonnes to its reserves in the first 10 months of 2026.
Gold prices fell almost 7% in October and ended the month below $4,000 an ounce.
- Who
- China’s central bank, the People’s Bank of China.
- What
- It added about 25.8 tonnes of gold to its reserves, extending its buying streak to 24 months.
- When
- The purchase was made in October 2026; the data was released on November 7.
- Where
- China.
- Why
- The bank continued its policy of increasing its gold reserves. The sources do not state a specific reason for the October purchase.
This story does not have two clearly opposing sides.
China’s central bank began buying gold every month, according to Sabah.
The bank bought about 23 tonnes of gold, according to Sabah.
The bank added about 25.8 tonnes to its gold reserves.
Official data on the October purchase was released.
- October purchase
- 830,000 ounces, or about 25.8 tonnes
- Gold reserves after purchase
- 78.30 million ounces
- Buying streak
- 24 consecutive months
- 2026 purchases through October
- About 129 tonnes
- October gold price decline
- Almost 7%; ended below $4,000 an ounce