China PBOC Gold Accumulation
Key Questions
What are China's recent gold accumulation trends?
The PBOC has accumulated gold to 2,313 tonnes over a 17-month streak through March 2026. This drives physical demand and COMEX drawdowns amid geo-risks and de-dollarization.
How have China's silver imports changed recently?
China's silver imports surged 78% month-over-month to a record 836 tonnes. This reflects heightened physical demand alongside gold buying by central banks.
What broader central bank trends are evident in gold reserves?
Central banks like China's PBOC are surging gold buys amid de-dollarization and geo-risks, with Africa's reserves climbing to $530 billion in 2025, gold now at 17% of holdings.
PBOC holdings 2,313t (17-month streak to Mar 2026), silver imports +78% MoM to 836t record. Drives physical demand/COMEX drawdown amid geo-risks/de-dollarization/CB buying surge.
Sources (2)
Updated Apr 26, 2026