Gold macro brief, Oct 7, 2026 – China buys gold for a 23rd straight month: about 23 tonnes added in September

China buys gold for a 23rd straight month: about 23 tonnes added in September

Reuters: the People's Bank of China's gold reserves rose to 77.47M oz at end-September from 76.73M oz at end-August – an addition of 740,000 oz (≈ 23 tonnes), more than in August – extending the buying streak to 23 months. The value of its gold reserves fell from $350.08B to $323.52B as gold dropped more than 6% in September.

Gold impact: Steady central-bank buying even into weakness puts a floor under gold at lower prices, though the dollar and yields still drive the short term.

🔗 Source: Reuters (qua Mining Weekly) – China's central bank adds to gold reserves for 23rd consecutive month