China's central bank expanded its bullion holdings by 20 tonnes during July, representing the highest single-month acquisition since October 2023. This latest transaction follows a steady upward trend in the bank's accumulation strategy, which saw additions of 15 tonnes in June and 10 tonnes in May.
This recent activity marks the 21st straight month that the country has increased its official gold reserves. The accelerating pace of purchases highlights a sustained effort to grow reserves, with the July figure doubling the volume acquired just two months prior.