The People's Bank of China has increased its gold reserves for 19 consecutive months, with the scale of purchases expanding significantly in the past three months.

Odaily reports that on June 7, the State Administration of Foreign Exchange released data showing that as of the end of May 2026, China's foreign exchange reserves stood at $3,442.2 billion, an increase of $31.7 billion, or 0.93%, from the end of April. Gold reserve data released on the same day showed that China's gold reserves have increased for 19 consecutive months.

According to official reserve asset data updated on June 7, as of the end of May 2026, China's gold reserves stood at 74.96 million fine troy ounces, an increase of 320,000 ounces from 74.64 million ounces at the end of April. The People's Bank of China began this round of gold purchases in November 2024, and as of the end of May 2026, it has increased its holdings for 19 consecutive months.

Between March 2025 and February 2026, the People's Bank of China's monthly gold purchases remained below 100,000 ounces. Since March, the scale of monthly purchases has been steadily increasing, reaching 160,000 ounces, 260,000 ounces, and 320,000 ounces respectively.

Data shows that as of the end of 2025, gold accounted for approximately 8.8% of China's official international reserves, which are mainly composed of foreign exchange reserves and gold reserves. According to data released by the European Central Bank on June 2, as of the end of 2025, gold's share of total reserve assets held by central banks globally reached 27%, up from 20% at the end of the previous year. This indicates that the current proportion of gold in China's reserves is significantly low, leaving considerable room for further increases in the future. (Chang'an Street News)