China Splurges $2,895,995,400 on Gold in One Month As Global Central Banks Gobble Up 170 Tons of the Yellow Metal Year-to-Date

China’s central bank added another 20 tons of gold in August as central banks worldwide kept buying.

The People’s Bank of China has now bought gold for 22 straight months, lifting its year-to-date total to 80 tons and its official stockpile to about 2,387 tons, roughly 9% of its reserves, reports the World Gold Council.

Global central banks reported 39 tons of net purchases in August and 170 tons so far this year. Year-to-date, China has added 80 tons of gold to its central bank reserves.

“China’s official gold reserves now stand at 9% of total reserves, or around 2,387 tons.”

Poland remains the top buyer year-to-date after adding 8 tons in August for a 2026 total of 98 tons.

Its holdings now sit at 648 tons as Warsaw works toward a 700-ton target.

Uzbekistan bought 8 tons and Kazakhstan 7 tons, leaving gold at about 90% and 79% of their reserves, respectively. Year-to-date gold purchases by the two countries’ central banks now stands at 50 tons and 36 tons, respectively.

The Czech National Bank added 2 tons and Turkey bought 3 tons after three months of net sales.

Says Marissa Salim, senior research lead for Asia-Pacific at the World Gold Council,

“Global central banks remain on pace with gold accumulation this August, with reported net buying totalling 39t.”

Meanwhile, Russia sold another 6 tons in August. The Central Bank of Jordan also sold 3 tons over the same period.

Gold is trading at $4,105 an ounce at time of writing.

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