Recent estimates reveal that China has purchased significantly more gold than officially reported, acquiring an estimated 88 tonnes through the London OTC market during May and June alone.
This brings China’s total gold reserves to a record 2,366 tonnes, as Beijing continues to diversify its reserves away from the US dollar.
The actual purchases far exceed the figures announced by the People's Bank of China (PBoC), especially in recent years. Estimates show:
· 65 tonnes in 2023
· 50 tonnes in 2024
· 55 tonnes in 2025 (estimated)
· 50 tonnes in 2026 (so far)
This move is seen as part of China’s broader strategy to strengthen its safe-haven assets amid geopolitical tensions and global market volatility.
Analysts believe that continued high-volume gold buying by China could support global gold prices and reflects a growing international trend toward hedging against inflation and currency devaluation.