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Gold Reserves
2,292.3t
Reserve Value
$213.73B
% of Reserves
5.2%
YoY Change
+57.3t
Est. Purchase Cost
$5.34B
Gold/Currency Ratio
2.49%
China steadily buys gold to diversify reserves, hedge against US sanctions risks, and support renminbi internationalization in a multipolar world. Accumulation counters dollar dominance and geopolitical trade tensions. This strategy reinforces domestic confidence amid economic slowdowns.
Notable Activity
China added 57.3 tonnes over 14 consecutive months of purchases into 2026.
Key Motivations
What this means
The gold/currency ratio measures how much of a country's money supply is "backed" by gold reserves. A higher ratio suggests stronger implicit gold backing of the currency. This country has a relatively low gold/currency ratio, suggesting room for additional gold accumulation.
Bullion Fear & Greed Index
Was the market fearful or greedy when China was buying? Central banks often buy gold during market fear — the opposite of retail.
Gold/Silver Ratio
Central banks buy gold, not silver. Track the gold/silver ratio to understand relative value between the two metals.
Mining ETFs
Central bank buying supports gold prices, which flows through to mining company valuations. Track GDX, GDXJ, and miner sentiment.
Data Sources
Gold holdings from IMF International Financial Statistics (IFS) and World Gold Council. M1 money supply from FRED and IMF. Geopolitical context enriched monthly. Last updated: 2026-03-31.