China's Central Bank Adds Gold for the 13th Straight Month

China central bank gold reserves

Key Points

13th consecutive month: The People’s Bank of China (PBOC, 中国人民银行) has been adding gold monthly, indicating a steady, long-term reserve strategy.
Total gold holdings: 74,120,000 troy ounces (7412万盎司) — approximately 2,305.39 metric tonnes.
Monthly increase: November saw a net addition of 30,000 troy ounces (≈ 0.93 tonnes).
Foreign-exchange reserves: FX reserves were $3,346,372,000,000 USD (¥24.094 trillion RMB) at the end of November.

Quick headline: The People’s Bank of China (PBOC, Zhōngguó Rénmín Yínháng 中国人民银行) continued its monthly gold purchases in November, marking the 13th consecutive month of accumulation.

Key figures — China central bank gold reserves

Foreign exchange reserves at end-November: $3,346,372,000,000 USD (¥24.094 trillion RMB). Converted at approximately ¥7.20 per $1 USD; conversion is approximate.
Gold reserves at end-November: 74,120,000 troy ounces (7412万盎司, àngsī), a month-on-month increase of 30,000 troy ounces (≈0.93 tonnes).

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Summary

The People’s Bank of China (PBOC, Zhōngguó Rénmín Yínháng 中国人民银行) reported foreign exchange reserves of $3,346,372,000,000 USD (¥24.094 trillion RMB) as of the end of November.

The PBOC’s gold holdings rose to 74,120,000 troy ounces (7412万盎司, àngsī) at the same date.

The month-on-month gold increase was 30,000 troy ounces, which is approximately 0.93 tonnes.

This marks the 13th straight month of net gold accumulation by the central bank.

Conversions and notes

Gold conversion: 1 troy ounce = 31.1034768 grams.
Total gold in metric tonnes: 74,120,000 troy ounces ≈ 2,305.39 metric tonnes.
Monthly increase in metric tonnes: 30,000 troy ounces ≈ 0.93 tonnes.
Currency conversion note: USD→RMB conversion above uses an estimated rate of ¥7.20 per $1 USD for illustrative purposes; readers should consult live FX quotes for exact figures on a given reporting date.

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Context — why the steady buys matter

Continuous, modest monthly purchases are a different playbook than large, headline-grabbing one-off buys.

Small, repeated additions smooth market impact and signal a long-term reserve-management strategy.

That pattern is consistent with several central banks that have increasingly included gold as part of diversification efforts in recent years.

For China, this ongoing accumulation reinforces a gradual shift toward hedging currency and geopolitical risks with tangible assets.

What investors, founders, and strategists should notice

Reserve diversification: The PBOC is steadily increasing gold exposure rather than timing a single large purchase.
Market signaling: Thirteen months of purchases send a message about long-term planning and cautious reserve rebalancing.
Volatility management: Smaller monthly buys reduce price impact and help the PBOC manage market visibility while still adding to holdings.
Geopolitical hedge: Gold remains a traditional hedge against currency and geopolitical shocks, and steady accumulation aligns with that role.

Quick takeaways

Fact: Gold reserves are now 74,120,000 troy ounces (7412万盎司, àngsī), about 2,305.39 metric tonnes.
Fact: Foreign exchange reserves stood at $3,346,372,000,000 USD (¥24.094 trillion RMB) at end-November.
Trend: Thirteen straight months of net accumulation shows consistency, not a rushed reaction.
Implication: Expect continued small-scale purchases rather than large one-time moves until policy or market conditions change.