China's Central Bank Increases Gold Reserves for 22 Consecutive Months
nashnova research
The People's Bank of China raised its gold reserves to 76.73 million troy ounces at end-August, adding 650,000 ounces in a single month — the 22nd consecutive monthly increase, a nearly two-year strategic buying signal.
How much did the PBOC add this month?
Gold reserves stood at 76.73 million troy ounces at end-August, up 650,000 ounces from July's 76.08 million.
This means → the central bank is adding at a steady clip; the monthly increment is in line with recent months, neither accelerating nor slowing.
What does a 22-month streak signal?
Since resuming purchases in late 2022, the PBOC has bought gold every single month for 22 months without a pause.
This means → this is not opportunistic timing but a medium-to-long-term strategic allocation — the central bank is systematically reducing its reserve exposure to any single currency asset.
In plain terms = buying every month for nearly two years without stopping says "committed policy," not "bargain hunting."
What does it mean for markets?
China's central bank is one of the world's largest official gold buyers; sustained accumulation puts a stable demand floor under the gold price.
This reflects a broader global trend of central-bank "de-dollarization" — China is not alone; multiple central banks have been adding gold over the past two years.
This means → as long as this buying pace holds, the official demand layer in the gold market stays firm.
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