The People's Bank of China has bought gold for 23 straight months, adding about 23 tonnes in September, its largest monthly purchase in almost three years. China spent a record $158.8 billion importing more than 1,000 tonnes in the first eight months of 2026, far above the $96.5 billion and 886 tonnes imported in all of 2025. Analysts link the buying to Beijing's effort to reduce reliance on the dollar and U.S. Treasuries, since foreign-held reserves can be restricted during geopolitical tensions while gold in domestic vaults remains insulated. Chinese households are also turning to gold amid a shaky economy, a slumping property market, and low returns on deposits and bonds. Although gold fell more than 8% in September to about $4,176 an ounce from a January record above $5,500, Chinese demand is seen as providing structural support for prices.
Summary written by Upside AI from the original article. Read the source for full details.
Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: high
| Market | Gold |
|---|---|
| Close on 10/09/2026 | 4,194.48095 |
| Change that session | +1.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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