China’s central bank increased gold holdings to 76.08 million troy ounces, valued at $306.35 billion, amid geopolitical tensions and dollar weakness.
China’s gold reserves rose to 76.08 million troy ounces in July, up from 75.44 million in June, extending a 21-month buying streak. The value of reserves climbed to $306.35 billion from $303.72 billion, reflecting stabilization in gold prices after a May dip and a recent rebound above $4,000 per ounce.
Central bank demand has moderated since early 2026 but remains robust, with China leading purchases. Analysts note the official figures may understate actual holdings, as independent estimates suggest larger undisclosed acquisitions. Geopolitical risks, including the U.S.-Iran conflict, and a softer dollar have supported gold’s appeal.
Market sentiment remains cautious, however, as higher bond yields and hawkish central bank policies could pressure gold in the second half of the year.