China’s gold holdings have increased for three consecutive months

China’s foreign exchange reserves at the end of January showed that its gold holdings were about 2,284 tons. It increased by 0.2% from the end of December 2024 and has increased for three consecutive months. The People’s Bank of China may have increased its holdings of gold as a safe asset.

The details of the foreign exchange reserves at the end of January announced by the People’s Bank of China (PBOC) on February 7 showed that the gold holdings were about 2,284 tons. It increased by 0.2% from the end of December 2024 and has increased for three consecutive months. The People’s Bank of China may have increased its holdings of gold as a safe asset.

From November 2022 to April 2024, China increased its gold holdings for 18 consecutive months, but did not increase its holdings from May to October. It began to increase its holdings again in November 2024. At the end of January 2025, China’s foreign exchange reserves reached US$3.209 trillion, an increase of US$6.6 billion from the end of the previous month. It has increased again in two months.