07.08.2026 14:20
The People's Bank of China (PBOC) added approximately 20 tons (640 thousand ounces) of gold to its reserves in July, continuing its purchases for the fifth consecutive month. Marking its strongest monthly purchase in the last 22 months, the bank's total gold reserves reached 76.08 million ounces, while the total value of reserves exceeded 306.35 billion dollars.
The People's Bank of China (PBOC) added approximately 20 tons to its gold reserves in July, marking its fifth consecutive month of purchases. With this move, the bank recorded its highest monthly gold purchase in the last 22 months.
The People's Bank of China (PBOC) is resolutely continuing its strategy of increasing gold reserves amid ongoing volatility in global markets. With a massive purchase of approximately 20 tons in July, the bank achieved its highest single-month gold purchase record since October 2023.
RESERVES RISE ABOVE 76 MILLION OUNCES
According to official data released, the People's Bank of China's gold reserves rose to 76.08 million ounces by the end of July, up from 75.44 million ounces in June. The purchase of 640,000 ounces (approximately 20 metric tons) in July was recorded as the strongest monthly purchase in the last 22 months, following the record increase of 740,000 ounces recorded in October 2023.
PURCHASE PACE ACCELERATES EACH MONTH
The PBOC, which added 480,000 ounces of gold to its reserves in June, has seen its purchase pace steadily gain momentum since March. The Bank, which initiated the process by purchasing 160,000 ounces of gold in March, has continued to gradually increase the purchase amount in each subsequent month.
TOTAL VALUE OF RESERVES EXCEEDS 306 BILLION DOLLARS
The increase in the amount of gold was directly reflected in total reserve values. The total market value of China's gold reserves reached 306.35 billion dollars by the end of July. This figure stood at 303.72 billion dollars at the end of June.
RECOVERY IN GOLD PRICES HAD AN IMPACT
In the markets, gold prices showed a sharp upward trajectory in July, ending a four-month-long decline and marking their strongest monthly performance since February. In this upward climb in prices, the reduction of inflation expectations in the US and the decline in investors' expectations for additional interest rate hikes by the US Federal Reserve (Fed) due to movements in oil prices played a significant role.