China Keeps Buying Gold Despite High Prices
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China’s central bank extended its gold-buying streak to a 16th month in February, adding to reserves despite elevated prices.
The People’s Bank of China added 30,000 ounces of gold last month, taking total holdings to 74.22 million ounces, according to data released Saturday by the State Administration of Foreign Exchange (SAFE).
The continued purchases came as gold prices remained high. London spot gold rose 8.6% in February to close above $5,200 per ounce.
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- China’s central bank bought gold for the 16th straight month in February, increasing reserves by 30,000 ounces to 74.22 million ounces.
- Gold prices rose 8.6% in February, closing above $5,200 per ounce.
- China’s foreign exchange reserves grew by $28.7 billion to nearly $3.43 trillion, partly due to currency and asset price changes.
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What Happened When
- February 2026：
- China's central bank extended its gold-buying streak to a 16th month, adding 30,000 ounces of gold to its reserves.
- February 2026：
- London spot gold rose 8.6% to close above $5,200 per ounce.
- February 2026：
- China’s foreign exchange reserves rose by $28.7 billion to nearly $3.43 trillion.
- February 2026：
- The 10-year U.S. Treasury yield fell from 4.25% to 3.96%, increasing the valuation of China’s bond holdings.
- By March 7, 2026：
- Data released by SAFE showed China's total gold holdings reached 74.22 million ounces, as of the end of February 2026.
AI generated, for reference only
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