There is a lot of pressure on Gold and Silver, due to which the gold prices have come down a lot. This is the reason, now the buying of gold has started again. The special thing is that ‘China’ is rapidly filling the gold stock.
So far in the year 2026, China’s gold purchase has reached 103 tons. The data shared by The Kobesi Letter is provided to the World Gold Council. It stated that China’s total gold holdings have increased to a record 2410 tonnes.
The continued buying comes at a time when the central bank is diversifying its reserve portfolio and strengthening its gold holdings. It is a reserve asset, with no direct sovereign credit risk.
‘China’ has reached close to France and Italy
According to the figures in the report, China is still the world’s fifth largest official gold holder. It is behind the United States, Germany, Italy and France.
BREAKING: China’s central bank officially bought +23 tonnes of gold in September, its largest monthly purchase since September 2023.
This follows +20 tonnes purchased in both August and July, and marks its 23rd consecutive monthly gold purchase.
So far in 2026, China has officially acquired +103 tonnes of gold, raising total holdings to a record 2,410 tonnes.
China is now the world’s 5th-largest gold holder, following the US, Germany, Italy, and France.
At this pace, it could surpass Italy and France as early as this year, which hold 2,452 tonnes and 2,437 tonnes, respectively.
China is aggressively buying the dip in gold.
— The Kobeissi Letter (@KobeissiLetter) October 9, 2026
The gap between China and European countries above it has narrowed. Italy has about 2452 tons of gold, while France has about 2437 tons. With 2410 tonnes, China is only 27 tonnes behind France and 42 tonnes behind Italy.
If China continues to accumulate gold at this rate, China could overtake France and Italy in the official gold holdings rankings. However, this timing will depend on future purchases and any changes in reported holdings of other central banks.
Market ups and downs, but buying ‘continues’
China’s new purchases also indicate that demand for gold remains strong despite market volatility. The Kobeisi Letter described these purchases as an attempt to acquire gold during a price slump. However, these figures alone do not prove the PBOC’s timing strategy or its intent for individual transactions.
China bought 5 tonnes of gold in March, followed by 8 tonnes in April and 10 tonnes in May. This was followed by buying up to 15 tonnes of gold in June and 20 tonnes in both July-August.
After this, 23 tonnes of gold has been purchased in the previous month i.e. September. China is gradually buying gold and if this continues, it may soon overtake the rest.
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