China adds 20 tonnes of gold in July, largest purchase since 2023

China’s central bank, the People’s Bank of China (PBOC), has significantly increased its gold reserves, adding 20 tonnes in July 2026. This marks the largest single-month increase since October 2023 and extends a 21-month streak of continuous gold accumulation. The total official gold holdings have reached a record high of 2,366 tonnes. The PBOC’s purchasing activity over recent months suggests a strategic move to bolster reserves amid ongoing global economic uncertainties. Market participants appear to interpret this substantial accumulation as an indicator of strong demand for gold, potentially influencing future price movements. The gold market has seen varied levels of activity, with the current pricing suggesting a cautious outlook on whether the metal’s value will rise significantly by the end of the year. Recent data shows modest shifts in the probability of gold reaching higher price thresholds by December 2026. The broader impact of China’s gold acquisition strategy is being closely monitored by global financial analysts. With the central bank’s purchases contributing to a potential upward pressure on gold prices, the market remains attentive to further developments in Chi...