China's Central Bank Logs Biggest Monthly Gold Purchase Since October 2023

The People's Bank of China, the country's central bank, extended its gold buying streak to a 21st consecutive month, official data cited by Reuters showed on Friday, August 7, 2026, with purchases rising for a fifth straight month. Reserves climbed to 76.08 million fine troy ounces at the end of July from 75.44 million ounces a month earlier, an increase of 640,000 ounces, or nearly 20 metric tons. The addition was the biggest monthly increase in China's gold reserves since October 2023, when holdings rose by 740,000 ounces. China's central bank, one of the world's largest sovereign gold buyers, has been a persistent support for global gold prices in recent months.