20:42 - 7.09.2026

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September 7, Fineko/abc.az. The People’s Bank of China (PBOC) ramped up its bullion purchases in August, recording its largest monthly reserve addition since 2023. Official data released by the central bank shows that China’s gold reserves expanded by 650,000 troy ounces, extending its continuous accumulation streak to a 22nd consecutive month.

Reserve expansion and market drivers:

• August Rally: Bullion prices surged by nearly 10% in August following months of range-bound trading. The U.S. Treasury's bond buyback plans fueled inflation worries and dollar weakness, steering investors toward safe-haven assets.

• Institutional Support: While elevated Treasury yields continue to present short-term headwinds for non-yielding bullion, sustained buying by the PBOC provides long-term structural support for the precious metal.