PBOC Continues Gold Purchases for 21st Consecutive Month

Data from the People's Bank of China (PBOC) show that China's gold reserves reached 76.08 million ounces at the end of July, up from 75.44 million ounces at the end of June. This marks the 21st consecutive month of gold accumulation by the Chinese central bank.

The State Administration of Foreign Exchange (SAFE) also reported that China's foreign exchange reserves stood at USD 3,418.8 billion at the end of July 2026, an increase of USD 2.5 billion, or 0.07%, from the end of June. The rise was driven by currency translation and asset price valuation effects amid a weaker U.S. dollar and mixed global asset prices. SAFE noted that the Chinese economy continues to demonstrate strong resilience, supporting the basic stability of foreign exchange reserves.