China's central bank bought gold for a 24th consecutive month in October, adding about 25.8 tonnes to its reserves even as bullion prices fell sharply during the month. Official data released on Saturday showed the People's Bank of China held 78.3 million fine troy ounces at the end of October, up 830,000 ounces from 77.47 million ounces a month earlier.

The increase was the bank's largest monthly addition since it resumed buying in November 2024, and it took total reported holdings to roughly 2,435 tonnes. The buying came in a month when gold fell nearly 7 per cent and briefly dropped below $4,000 an ounce, a level it has since recovered.

Rather than pausing as prices slid, Beijing stepped up its purchases, adding about 129 tonnes in the first ten months of 2026. China was also the largest disclosed buyer among central banks in the third quarter, adding about 63 tonnes, according to World Gold Council data. Central banks bought a net 321 tonnes in the quarter, the strongest quarter since late 2024.

The value of China's gold reserves fell to $306.41 billion at the end of October, down from $323.52 billion in September, because the price fall outweighed the extra ounces. The country's foreign exchange reserves rose slightly to $3.405 trillion.

The steady accumulation points to a long-term diversification strategy. Gold still makes up only about 8 per cent of China's official reserves, well below the global average of about 27 per cent, leaving plenty of room for further buying.

[Source: thehindubusinessline.com](https://www.thehindubusinessline.com/money-and-banking/china-buys-gold-for-24th-straight-month-reserves-rise-to-783-million-ounces/article71677248.ece) | [Source: captainaltcoin.com](https://captainaltcoin.com/gold-price-today-china-buys-25-8-tonnes-as-gold-rebounds-from-october-crash/)