Aug 23, 2026
China Gold Buying Far Exceeds Official PBOC Reports, Goldman Sachs Data Shows
Analysiscentral bank gold demandChina gold buyinggold OTC marketGold Price 2026Goldman Sachs gold dataPBOC gold reservesShanghai Futures ExchangeUS Treasury holdings
TLDR: China’s June gold buying reached 40 tonnes via OTC, not the 15 tonnes reported officially. PBOC added 20 tonnes in July, its largest monthly purchase since October 2023. China’s U.S. Treasury holdings fell to $633.4 billion in June, lowest since 2008. Shanghai gold futures open interest hit five-year highs near 400,000 lots this week. [...]
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