China goes on gold-buying spree, purchases record amounts in Sept

The People's Bank of China (PBOC) bought about 23 tonnes of gold in September, its biggest monthly purchase in nearly three years, CNBC reported. China imported over 1,000 tonnes of gold worth a record $158.8 billion between January and August 2026. Its aggressive gold accumulation strategy aims to reduce reliance on the US dollar and shield wealth from geopolitical risks.