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China Boosts Gold Reserves Amid Central Bank Buying Surge

11/19/2025

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Summary

Story summary

China added about 15 tons of gold to its forex reserves in September, part of a global central bank buying spree totaling 64 tons.
Analysts expect continued buying through November as central banks diversify reserves, following 21 tons purchased in August.
Goldman Sachs projects gold prices could reach $4,900 per ounce by end-2026, driven by central bank purchases and inflows from private investors.

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Story summary

China added about 15 tons of gold to its forex reserves in September, part of a global central bank buying spree totaling 64 tons.
Analysts expect continued buying through November as central banks diversify reserves, following 21 tons purchased in August.
Goldman Sachs projects gold prices could reach $4,900 per ounce by end-2026, driven by central bank purchases and inflows from private investors.