China has now bought gold for 15 consecutive months
What's the story
China's central bank has continued its gold buying spree for the 15th consecutive month, according to data from the People's Bank of China (PBOC). The country's gold reserves rose to 74.19 million fine troy ounces by the end of January, up from 74.15 million in December. This is a clear indication that China is committed to bolstering its reserves with this precious metal.
Value increase
Gold reserves surge to $369.58B
The ongoing gold buying spree has pushed China's gold reserves to a staggering $369.58 billion, a significant increase from the previous month's value of $319.45 billion. This sharp rise highlights the central bank's aggressive strategy to build its wealth in this precious metal amid global economic uncertainties and market volatility.
Consumption trends
Demand for gold bars, coins skyrockets
Despite a slight dip in overall gold consumption in China in 2025, the demand for gold bars and coins has skyrocketed by over a third. These items now account for more than half of total gold consumption in the country. This trend indicates that amid market uncertainties, many Chinese citizens are turning to gold as a reliable investment option.