China’s Central Bank Adds 21 Tonnes of Gold in September, Biggest Buy in Three Years

The People’s Bank of China added 21 tonnes of gold to its reserves in September as prices fell, marking the largest monthly increase in three years and extending its buying streak to 23 months with total holdings now at 2,196 tonnes.

This purchase topped the 18.5 tonnes added in August and 18 tonnes in July while nearly matching the 24 tonnes acquired in September 2023. Foreign exchange reserves meanwhile slipped to $3.4 trillion, down $38.1 billion.

The decline stemmed from currency translation effects and weaker asset prices amid a stronger dollar. World Gold Council data shows China and Poland continue leading central bank gold accumulation this year through steady programs.