China gold market update: Q3 ends with strong official gold buying | Post by Ray Jia | Insights - World Gold Council
China gold market update: Q3 ends with strong official gold buying | Post by Ray Jia | Insights - World Gold Council
Source: World Gold Council
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DW NOTE
The PBOC added 60 tonnes in Q3 after a six-month pause, bringing declared reserves to 2,264 tonnes. That's still 1,000 tonnes short of the holdings Beijing accumulated in the four years before it stopped reporting in 2019. Either Chinese central bankers abruptly lost interest in the only asset uncorrelated with US credit risk, or the real buying never made it into the published figures.