The Nation reports China imported a record US$158.8 billion worth of gold in the first eight months of 2026 — more than the whole of 2025 — as Beijing works to reduce its dependence on the dollar and households seek safe-haven assets. Imports exceeded 1,000 tonnes against 886 tonnes worth US$96.5 billion for all of 2025, customs data show, while the People's Bank of China added about 23 tonnes in September, its largest monthly purchase in almost three years and a 23rd consecutive month of buying.
Julius Baer analyst Carsten Menke views the buying as primarily politically motivated, and State Street Investment Management forecasts gold could reach US$4,750–5,500 an ounce by the end of Q1 2027 — with Chinese demand cushioning the market after September's slide to around US$4,176.
