China Gold Imports Hit Record as Central Bank Extends Buying Streak
China imported a record volume of gold while the People's Bank of China continued accumulating the metal for a 23rd consecutive month. Central bank reserves grew by approximately 23 tonnes in September, marking its largest monthly addition in nearly three years. Customs figures show Chinese gold imports reached over 1,000 tonnes valued at $158.8 billion across the first eight months of 2026, already surpassing the $96.5 billion and 886 tonnes imported during all of 2025.
The heavy accumulation stems from strong demand among Chinese households and corporations searching for safe-haven assets alongside government efforts to diminish dependence on the U.S. dollar. Market observers point to geopolitical tensions, limited attractive domestic investment options, and ongoing initiatives by Beijing to expand its domestic gold market as primary catalysts driving the surge.
Global gold markets continue to adjust following significant volatility, with prices sliding over 8% in September to roughly $4,176 per ounce after peaking above $5,500 in January. Industry strategists expect price trends to stay closely tied to central bank purchasing policies and shifts in global macroeconomic risks.
Key points
- China imported more than 1,000 tonnes of gold worth $158.8 billion in the first eight months of 2026, beating full-year 2025 totals.
- The People's Bank of China added about 23 tonnes of gold in September, extending its buying streak to 23 consecutive months.
- Record buying is driven by safe-haven demand, weak domestic investment options, and efforts to reduce reliance on the U.S. dollar.
- Gold prices fell over 8% in September to around $4,176 per ounce after reaching a peak above $5,500 earlier in the year.
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How we writeDisclaimerQuestions and answers
How much gold did China import in 2026?
In the first eight months of 2026, China imported over 1,000 tonnes of gold valued at a record $158.8 billion, exceeding the $96.5 billion and 886 tonnes imported in all of 2025.
Why is China buying so much gold?
China is buying gold as households and companies seek safe-haven investments amid weak domestic options, while the government aims to build a deeper domestic gold market and reduce reliance on the U.S. dollar.
How long has China's central bank been buying gold?
The People's Bank of China has added to its gold reserves for 23 consecutive months, purchasing approximately 23 tonnes in September alone.