China's Central Bank's Gold Stash Spikes To 2,292 Tonnes And Beijing Is Still Buying

China’s central bank continued to accumulate gold, adding 5 tonnes to its stash in March, marking its 5th consecutive monthly purchase.

What Happened: On Sunday, The Kobeissi Letter, a popular capital markets newsletter posted on X, stating that China’s Central Bank has purchased gold for the 5th straight month, adding 5 tonnes in March, and bringing its total gold reserves to a record 2,292 tonnes.

See More: The Average Household Is A Millionaire With A $1.06 Million Net Worth, According To The Fed — So Why Do People Still Feel Broke?

It adds that gold now accounts for 6.5% of the nation’s official reserve assets, having purchased a “whopping” 50 tonnes of the yellow metal in February, more than 10 times what was officially reported, according to Goldman Sachs Group Inc. GS.

According to the post, China has been accumulating gold at a rapid pace, with its purchases on the London OTC market significantly above officially reported numbers.

Why It Matters: Growing central bank demand has sent gold to record highs in recent weeks, and analysts at Bank of America Corp. BAC continue to revise their targets upwards for the commodity, citing trade war uncertainties and a weaker U.S. Dollar.

Gold prices are also seeing momentum from growing ETF inflows, with global gold ETFs adding $21 billion in the first quarter of 2025, marking their second-highest quarterly inflow since the COVID-19 pandemic in 2020, as investors pursue safe-haven assets amid global market turmoil.

With the “Simultaneous Collapse” is U.S. assets, with equities, Treasuries, and the dollar, all falling in tandem, gold remains one of the few remaining places of refuge for investors across the globe.

Photo Courtesy: humphery on Shutterstock.com

Read More: Donald Trump’s Trade War: JPMorgan Predicts Deals, Higher Taxes and Potential Recession Avoidance