China's Central Bank Extends Gold-Buying Streak to 17 Months — FX Impact

China's Central Bank Extends Gold-Buying Streak to 17 Months

China's gold reserves stood at 74.38 million troy ounces (2,313 metric tons) as of end-March, up 160,000 troy ounces (4.98 tons) from February. The People's Bank of China has now purchased gold for 17 consecutive months, making China the world's largest gold buyer in Q1 2026 with net purchases of 58 tons — a clear signal of strategic 'de-dollarization.'

FX Impact: Beijing's sustained gold accumulation weakens the dollar's dominance in global reserves over the long term, supporting yuan internationalization. This shift reinforces confidence in RMB-denominated assets as a reserve alternative.