EL7.AI
CommoditiesMedium•7 November 2026•
1 min read

PBOC Increases Gold Reserves for 24th Consecutive Month in October

Key Facts

1The People's Bank of China added 830,000 ounces of gold to its reserves in October.
2This increase marks the 24th consecutive month of rising gold holdings for China.
3Total gold reserves reached 78.30 million ounces by the end of October.

The People's Bank of China (PBOC) added 830,000 ounces of gold to its reserves during October. Futu Niuniu reported that this increase marks the 24th consecutive month of rising gold holdings for China, bringing total reserves to 78.30 million ounces by the end of the month.

China continues to diversify its foreign exchange reserves away from the US dollar, maintaining a buying streak that serves as a primary support pillar for gold prices. This accumulation coincides with recent economic data showing growth in Chinese industrial activity, as the Caixin Manufacturing PMI recorded 52 on November 2, 2026, exceeding forecasts.

Market attention now turns to Chinese inflation data scheduled for release on November 9, 2026, with the annual inflation rate forecast at 0.8%, followed by the Balance of Trade figures on November 10, 2026.

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