Beijing’s gold reserves rose to 74.64 million troy ounces, valued at $344.17 billion, amid central bank demand for safe assets.
China’s gold reserves increased for the 18th consecutive month in April, reaching 74.64 million troy ounces, up from 74.38 million in March. The value of these reserves climbed to $344.17 billion from $342.76 billion, reflecting ongoing central bank accumulation of the precious metal.
The trend underscores broader demand among central banks seeking to diversify holdings amid geopolitical and financial market volatility. Gold prices have fluctuated sharply, peaking near $5,600 earlier this year before correcting to $4,747 this week, a 3% rebound from Monday’s lows.
While China’s official figures suggest steady buying, independent estimates, including those from the World Gold Council, indicate Beijing may hold significantly more gold than reported. The divergence highlights persistent speculation about undisclosed reserves.