China Extends Gold Buying to 21 Months, FX Reserves Edge Up
SingTao · 2 SOURCESabout 2 hours ago1 MIN
Summary
China's central bank extended its record gold-buying streak to 21 consecutive months in July 2026, while the nation's foreign exchange reserves saw a slight uptick amid shifting global financial conditions .
Key Points
- The People's Bank of China added 640,000 ounces of gold in July, bringing total holdings to 76.08 million ounces, up 0.8% from June .
- China's foreign exchange reserves reached $34,187.76 billion at end-July, rising about $2.5 billion or 0.07% month-on-month .
- The US dollar index declined in July due to global macroeconomic conditions and monetary policy shifts in major economies .
- Currency valuation effects and asset price fluctuations combined to push the reserve total higher during the month .
- China's economy continues demonstrating structural optimization and new growth momentum, supporting reserve stability .
Why It Matters
The sustained gold accumulation reflects Beijing's long-term strategy to diversify reserves away from dollar-denominated assets, while the marginal FX reserve growth suggests cautious capital management amid an uncertain global monetary environment .
The sustained gold accumulation reflects Beijing's long-term strategy to diversify reserves away from dollar-denominated assets, while the marginal FX reserve growth suggests cautious capital management amid an uncertain global monetary environment .