China's central bank, the People's Bank of China (PBOC), reportedly added 23 tonnes of gold to its reserves in September 2026, its largest monthly purchase in nearly three years and extending its buying streak to 23 consecutive months. According to Nile Post, China's reported gold reserves now total about 2,410 tonnes. The move follows concerns over the vulnerability of dollar- and euro-denominated assets held abroad, a risk highlighted by Western freezes of Russian reserves after the 2022 invasion of Ukraine, while gold held domestically is less exposed to such restrictions. The article argues that this reflects an effort to diversify reserves and reduce dependence on a financial system where Washington and its allies wield considerable influence, rather than an outright shift away from the dollar. Other central banks have also increased purchases, with net buying of about 39 tonnes in August and about 23 tonnes in July, according to the World Gold Council.
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: high
| Market | Gold |
|---|---|
| Close on 10/16/2026 | 4,165.63 |
| Change that session | -0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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