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China Gold Buying Spree: Why Beijing Added Rs 29,418 Crore in Gold Reserves in September
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CNBC Awaaz•07-10-2026, 16:05
China Gold Buying Spree: Why Beijing Added Rs 29,418 Crore in Gold Reserves in September
- •China increased its gold reserves for the 23rd consecutive month in September, adding approximately 23.02 tonnes of gold.
- •The estimated value of the gold added in September is around Rs 29,418 crore based on international market prices.
- •China's total gold reserves have now reached approximately 2,409.59 tonnes, valued at around Rs 30.80 lakh crore.
- •During the same period, China's foreign exchange reserves declined by $38 billion to $3.400 trillion, surpassing expected drops.
- •The continuous gold accumulation is part of China's broader strategy to diversify its national reserves.
Key Questions Answered
China is continuously buying gold and increasing its gold reserves for the 23rd consecutive month to diversify its reserves and reduce reliance on the US dollar as part of a long-term financial strategy, much like household savings.
In September, China's central bank increased its gold reserves by about 7.40 lakh troy ounces, which is approximately 23.02 tonnes of gold with an estimated value of around Rs 29,418 crore.
China's foreign exchange reserves decreased from $3.438 trillion at the end of August to $3.400 trillion at the end of September, marking a decline of $38 billion which was more than expected.
