{
  "id": 6311311,
  "title": "China Adds 650,000 Ounces of Gold in Biggest Monthly Buy Since 2023",
  "url": "https://urgent.news/2026/09/08/china-adds-650-000-ounces-of-gold-in-biggest-monthly-buy-since-2023",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T19:00:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Metals/Gold/China-Adds-650000-Ounces-of-Gold-in-Biggest-Monthly-Buy-Since-2023.html"
  },
  "original_language": "en",
  "account": "China's central bank purchased 650,000 troy ounces, roughly 20 tonnes, of gold in August 2023, marking the largest single-month buy since 2023, according to data released by the People's Bank of China. This surpasses the 640,000-ounce purchase in July and extends a 22-month buying streak, the longest since China began disclosing monthly figures. The PBOC's gold reserves now total 76.73 million troy ounces, up from 76.08 million in July. The value of China's gold holdings rose to $350.08 billion from $306.35 billion, primarily due to the metal's price increase rather than new acquisitions. Gold now comprises nearly 10% of China's roughly $3.4 trillion in foreign exchange reserves, significantly less than the 60% to 70% share held by Western central banks. Analysts view China's accumulation as a strategic, long-term reserve buildup rather than a short-term bet on gold's price trajectory. The World Gold Council reported that central banks added a record 288.9 tonnes of gold in the second quarter, a 62% increase compared to the previous year. Poland led with 51 tonnes, while Uzbekistan, Kazakhstan, Jordan, and the Czech Republic also increased their gold reserves. Despite a 10% surge in gold prices in August, the metal faced pressure from strong U.S. jobs data and a potential Federal Reserve rate hike, which could diminish gold's attractiveness due to its lack of yield.",
  "summary": "China's central bank bought more gold in August than in any single month since 2023, and the metal still can't hold above $4,400 an ounce. The People's Bank of China added 650,000 troy ounces, roughly 20 tonnes, to its reserves last month, according to data the central bank released Monday. That tops July's 640,000-ounce purchase and extends the PBOC's buying streak to 22 consecutive months, the…",
  "key_points": [
    "China's central bank bought 650,000 ounces of gold in August 2023.",
    "This is the largest monthly purchase since 2023.",
    "PBOC's gold reserves increased to 76.73 million troy ounces."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}