China gold buying spree continues in July as reserves climb for a 21st consecutive month
- China gold reserves at the end of July 2026: 76.08 million troy ounces
- In June 2026: 75.44 million troy ounces
- China gold reserves value at the end of July 2026: $306.35 billion
- In June 2026: $303.72 billion
I don’t think the streak extending is much of a surprise. Central bank buying in gold may have slowed down a little since the turn of the year but China continues to stick to their guns when it comes to purchasing more of the precious metal.
After the dip in the value of gold prices in May, we’re seeing some stabilisation from June to July. And with the recent resurgence to start August, that could prompt more buying flows to return for gold.
With the dollar being hit with the US administration’s sidetracking in helping out Japan to defend the yen, things are starting to line up again for gold. That especially after two months of consolidation in holding just above the $4,000 mark.
The main issue though is that the US-Iran war continues to rage on. So, there’s still that to watch out for as higher bond yields and a more hawkish outlook for major central banks could yet still put a dent on gold’s ambitions in the second half of this year.
Circling back to China, it’s best to remember the backstory:
“Do be reminded that the numbers above are what is “officially" being reported. It has been speculated for the longest of time already that Beijing has been buying way more gold than what is being advertised here… independent estimates from the likes of the World Gold Council suggest that China’s actual holdings may be double what they are reporting."
This article was written by Justin Low at investinglive.com.