🇨🇳 UPDATE: China's central bank bought the most gold since 2023 in June, adding 480,000 troy ounces and extending its buying streak to 20 months.

What happened

China's central bank purchased 480,000 troy ounces of gold in June, the largest monthly addition since 2023, extending its continuous buying streak to 20 months.

Confirmed

Global impact / market context

The purchase shows the People's Bank of China is diversifying its foreign‑reserve holdings, which can support global gold prices and signals confidence in gold as a safe‑haven asset amid economic uncertainty.

Analyst inference

Central banks worldwide have been net buyers of gold, driven by inflation worries and a desire for reserve diversification, creating upward pressure on demand and price.

Analyst inference

What to watch

1. Whether the People's Bank of China continues its monthly buying pattern in the coming months, which would further influence gold demand. Proposed
2. Gold price movements, as sustained central‑bank buying often supports higher prices in the global market. Proposed
3. Purchasing activity of other major central banks, which could amplify or offset the impact of China's buying on overall gold market dynamics. Proposed

Evidence

• x.com