China gold demand stays extremely strong

China imported 163 tonnes of gold in May, the largest monthly import since March 2024.
It was the third straight month with imports above 150 tonnes.
Through the first five months of 2026, China’s gold imports rose 76 percent year over year to 692 tonnes.
Retail demand for physical bullion and gold accumulation plans remains strong.
The People’s Bank of China also added 10 tonnes to official reserves in May, its 19th straight monthly purchase.
China is still buying gold aggressively.