FINANCE

China Extends Gold Buying Streak as Prices Ease

Published: Jun. 8, 2026 7:01 p.m. GMT+8

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China’s central bank added 320,000 ounces of gold in May as prices edged lower, continuing steady accumulation, official data showed Sunday.

The monthly increase was the second-largest in the current buying cycle, just below the 330,000 ounces added in December 2024.

The buying streak has now reached 19 consecutive months, exceeding the 18-month run from November 2022 to April 2024.

However, total purchases in the current cycle — 2.16 million ounces — remain well below the previous total of 10.16 million ounces, indicating a slower pace of accumulation.

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Explore the story in 30 seconds

China's central bank added 320,000 ounces of gold in May, its second-largest monthly increase in the current buying cycle.
The buying streak reached 19 consecutive months, but total purchases (2.16M oz) lag the previous cycle (10.16M oz).
Gold prices fell about 1% to ~$4,540/oz; the World Gold Council expects 2026 central bank demand above 600 tons.

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Explore the story in 3 minutes

1. China's central bank added 320,000 ounces of gold in May, continuing a steady accumulation as prices edged lower, according to official data released on Sunday. [para. 1]

2. This monthly increase was the second-largest in the current buying cycle, just below the 330,000 ounces added in December 2024. [para. 2]

3. The buying streak has now reached 19 consecutive months, exceeding the previous 18-month run from November 2022 to April 2024. [para. 3]

4. However, total purchases in the current cycle—2.16 million ounces—remain well below the 10.16 million ounces accumulated in the earlier period, indicating a slower pace of accumulation. [para. 4]

5. Gold prices fell about 1% last month, easing from roughly $4,630 to $4,540 an ounce. During the previous buying cycle, prices were about half of current levels. [para. 5]

6. The World Gold Council expects global central bank gold demand in 2026 to remain above the 10-year average, topping 600 tons, despite intermittent sales by some countries. [para. 6]

AI generated, for reference only