China's Central Bank Adds 23 Tonnes of Gold as ETF Holdings Hit Record Highs

Key Facts

1China's central bank added 23 tonnes of gold to its reserves last month according to the World Gold Council.

2China's gold ETFs saw healthy inflows in September with holdings reaching record levels.

China's central bank added 23 tonnes of gold to its reserves last month, according to World Gold Council data reported by Kitco. The report noted that China's gold ETFs experienced healthy inflows throughout September, driving total holdings to record levels as institutional accumulation continues.

Moderating gold prices and seasonal festivals in China spurred increased demand for jewelry, bars, and coins alongside the central bank's activity. The World Gold Council indicated that these record ETF inflows highlight a trend of portfolio diversification among Chinese investors, providing a supportive floor for the metal despite broader shifts in foreign exchange assets.