China Extends Gold Buying Streak To 19 Months, Central Bank Adds 3,20,000 Troy Ounces To Reserves In May
· Free Press Journal
Beijing: China has once again grabbed the attention of global financial markets by increasing its gold reserves in May, extending a long-running buying streak that has become one of the biggest developments in the global gold market.
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According to official data released on Sunday, the People's Bank of China (PBOC) added 3,20,000 troy ounces of gold to its reserves during May.
The latest purchase comes at a time when gold prices have faced pressure in international markets.
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With the addition made in May, China's central bank has now increased its gold holdings for 19 consecutive months.
This means the PBOC has been steadily buying gold every month for more than one and a half years, highlighting its continued interest in strengthening the country's reserve assets.
Longest Buying Run in Years
According to reports, this is the longest uninterrupted gold-buying streak by China's central bank since at least 2015.
That year is considered an important benchmark because it marked the beginning of more regular public disclosures regarding China's gold reserve holdings.
The latest figures suggest that China remains committed to increasing its exposure to gold despite fluctuations in market prices.
India’s Household Gold Hits $5 Trillion, Surpassing Combined Reserves Of World’s Top 10 Central Banks: Assocham ReportWhy the Market Is Watching China?
China is one of the world's largest economies, and any major move by its central bank can influence global financial markets.
Continued gold purchases by the PBOC are closely monitored by investors because they can signal confidence in gold as a long-term reserve asset.
Analysts believe that sustained demand from central banks, especially China, can provide long-term support to global gold prices.
Gold Remains a Strategic Asset
The latest data shows that China continues to view gold as an important part of its reserve strategy.
Even as prices face short-term volatility, the central bank's steady buying pattern reflects its focus on diversification and long-term financial stability.