China Adds 9.95 Tonnes to Gold Reserves in May, Marking 19th Straight Month of Buying

The People’s Bank of China raised its gold reserves by 9.95 tonnes in May, extending its buying streak to 19 consecutive months and lifting total holdings to 2,331.52 tonnes or 74.96 million ounces.

Foreign exchange reserves reached $3.4422 trillion, up $31.7 billion or 0.93% from April, supported by a firmer dollar, higher asset prices and solid economic growth. Trade turnover in the first four months of 2026 hit $2.39 trillion.

Domestic gold demand has eased, with gold ETFs recording over RMB 10 billion in net outflows, Hong Kong-listed mining shares dropping 2.4–3.6% and Shanghai Gold Exchange withdrawals falling to 63.5 tonnes. Analysts note that gold’s long-term strategic value remains intact despite short-term volatility.