China extends record gold-buying streak to 22 months

China's central bank has reportedly purchased gold for a 22nd consecutive month, extending beyond its previous record streak of 18 months.
China added approximately 20 tonnes in August, its largest monthly purchase since October 2023, bringing reported reserves to roughly 2,387 tonnes. Monthly buying has accelerated sharply from around one tonne in January.
At the same time, China's U.S. Treasury holdings have declined to approximately $618 billion, an 18-year low and well below their historical peak above $1.3 trillion.
The combination highlights an ongoing shift in reserve allocation toward gold. The World Gold Council reports that 89% of surveyed central banks expect global official gold reserves to continue increasing.