The People's Bank of China (PBOC) has extended its unbroken streak of gold purchases to 20 consecutive months, adding approximately 14.93 tonnes to its official reserves in June 2026.
The acquisition, equivalent to 480,000 troy ounces, underscores Beijing's persistent strategy to diversify its foreign exchange holdings and reduce reliance on the US dollar.
This latest accumulation continues a broader trend of central bank demand that has supported precious metals markets throughout the year.
In May, global central banks purchased 41 tonnes of gold, with Poland, China, Uzbekistan, and Kazakhstan leading the buying activity.
The sustained appetite from sovereign buyers reflects growing concerns over geopolitical instability and currency risks, prompting more institutions to store bullion domestically.
The PBOC's consistent buying pressure serves as a key structural support for gold prices, even as market sentiment fluctuates.