China's central bank buys 20 tonnes of gold in July, biggest monthly addition since Oct 2023
AI Market Summary
China's central bank added 20 tonnes of gold in July—its largest monthly purchase since Oct 2023—lifting reserves to a record 2,366 tonnes. The scale and timing reinforce official-sector demand as a key pillar for bullion, supporting the narrative of reserve diversification and reduced reliance on major fiat currencies. Near term, the headline can tighten physical market sentiment and underpin gold's risk-hedge bid.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+0.12%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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China's central bank increased its gold holdings by 20 tonnes in July, marking its largest monthly purchase since October 2023. The move lifted official reserves to a record 2,366 tonnes.
