🔴China imports 163 tons of gold in May - highest since March 2024

Gold imports through all channels of China reached approximately 163 tons in May 2026, the third consecutive month exceeding 150 tons.
Cumulative total in the first five months reached approximately 692 tons, up 76% year-on-year compared to 2025.
PBOC increased official gold reserves by 9.95 tons in May, the largest increase in 16 months, bringing total reserves to 2,331.52 tons - the longest net buying streak in 11 years.
Gold now accounts for about 9% of China's total foreign exchange reserves.
PBOC continues to buy aggressively despite gold prices falling more than 20% from the historical peak at the end of January ($5,600/oz) to the current 4,088/oz.
From just 30,000 oz in February to nearly 320,000 oz in May.