World Gold Council: Chinese Gold ETF Inflows Hit 44 Billion Yuan in January, Setting a Record High for the Year's Start

According to Odaily, the World Gold Council released its "Monthly Review of the Chinese Gold Market." The report indicates that upstream physical gold demand in China remained robust in January: total gold withdrawals from the Shanghai Gold Exchange (SGE) amounted to 126 tons, a slight increase of 1 ton year-on-year and an 11-ton increase month-on-month. Strong sales of gold bars and increased restocking by jewelry retailers ahead of the Spring Festival jointly supported gold demand. In January, Chinese gold ETFs saw inflows of 44 billion yuan (approximately $6.2 billion, 38 tons), setting a record high for the start of any year. Both their total assets under management (AUM) and total holdings reached new historical highs. In 2026, the People's Bank of China continued to announce gold purchases, increasing its gold reserves by 1.2 tons to 2,308 tons, accounting for 9.6% of total foreign exchange reserves. (Jin10)