China extends gold buying streak to two years as prices drop. China's central bank added another 25.8 tons of gold in October. The 24th consecutive month of purchases. and brought the total additions in the first ten months of 2026 to approximately 129 tons. The purchase was also intensified when the price of gold fell by almost 7% and fell below $4,000 per ounce. The continued demand provides structural support and helps put a bottom on prices. China has been hoarding gold to diversify its foreign exchange reserves and reduce dependence on the US dollar.

China extends gold buying streak to two years as prices drop. China's central bank added another 25.8 tons of gold in October. The 24th consecutive month of purchases. and brought the total additions in the first ten months of 2026 to approximately 129 tons. The purchase was also intensified when the price of gold fell by almost 7% and fell below $4,000 per ounce. The continued demand provides structural support and helps put a bottom on prices. China has been hoarding gold to diversify its foreign exchange reserves and reduce dependence on the US dollar.