China's PBOC Resumes Gold Purchases Adding 23 Tons to Reserves in September

Key Facts

China's central bank added 23 tons of gold to its reserves during the month of September. Investing.com reported that the People's Bank of China (PBOC) resumed large-scale bullion purchases despite ongoing price fluctuations.

The move represents a shift in strategy following previous reports of a pause in buying, suggesting a continued effort to diversify national reserves away from the US dollar. As the world's largest official sector gold consumer, the resumption of purchases by the PBOC provides a floor for prices and signals institutional support for the commodity.