China's steadfast policy amid soaring gold prices

08 December 2025

Amid soaring gold prices , China has continued to buy gold for 13 consecutive months.

China's central bank has just increased its gold reserves for the 13th consecutive month.

According to data released on December 7, the People's Bank of China (PBOC) continued to add to its gold reserves in November. The amount of gold held increased by 30,000 ounces, bringing the total reserves to about 74.12 million ounces. The buying cycle started in November 2024 and shows no signs of stopping.

The move comes as global gold prices consolidate above the $4,200/ounce mark. With strong gains this year, gold is on track to post its best year since 1979.

According to the World Gold Council (WGC), central bank gold purchases have increased again since October after a mid-year lull. This trend was strongly promoted after Russia had its foreign exchange reserves frozen and the West increased sanctions, making gold a tool to protect against geopolitical risks and dependent on the US dollar.China , in its ambition to increase its global financial influence, has even invited foreign central banks to deposit gold in its reserves. Cambodia was one of the first countries to accept this offer.

Krishan Gopaul, senior gold expert at the WGC, said October was the strongest month for central banks to buy gold this year, with purchases totaling 53 tonnes, up 36% from September.However, purchasing activity is concentrated in a small number of countries.The National Bank of Poland bought 16 tonnes after a pause in May, bringing its reserves to 531 tonnes, or 26% of total reserves.Brazil continued to buy for the second consecutive month, adding 16 tonnes after buying 15 tonnes in September.The Central Banks of Uzbekistan (9 tons), Indonesia (4 tons), Türkiye (3 tons), Czech Republic (2 tons), Kyrgyzstan (2 tons), Ghana (more than 1 ton), China (more than 1 ton), Kazakhstan (more than 1 ton) and the Philippines (more than 1 ton) also stepped up gold purchases in October.Russia's gold reserves have hit a new record high, estimated by the Russian Central Bank at $310 billion as of early December. The WGC said Russia is now the world's fifth-largest holder of gold, behind only the United States, Germany, Italy and France.

In the first 10 months of 2025, the net gold purchase volume of central banks reached 254 tons.The WGC's 2025 survey results show that 95% of central banks expect global gold reserves to continue to rise next year, reinforcing the trend of shifting to safe assets amid prolonged economic and geopolitical uncertainty.

The National Bank of Serbia aims to increase its gold reserves to at least 100 tonnes by 2030, nearly double the current level. Madagascar and South Korea have also said they are considering increasing their gold holdings, although they have not announced a specific roadmap.World gold price at 3:43 New York time (15:43 Vietnam time) on December 8 was trading at 4,208.85 USD/ounce, up 11.04 USD, equivalent to 0.26%.Regarding domestic gold prices, the price of SJC gold bars at 9am on December 8 was trading around 153 - 154.5 million VND/tael (buy - sell). The price of Bao Tin Minh Chau 9999 gold rings was trading around 150.8 - 153.8 million VND/tael (buy - sell).

Source:https://laodong.vn/the-gioi/quyet-sach-kien-dinh-cua-trung-quoc-giua-luc-gia-vang-tang-manh-1622129.ldo