China's Central Bank Adds Gold for 23rd Straight Month, September Purchases of 740,000 Ounces Mark Strongest Pace Since March - BigGo Finance

China's central bank purchased 740,000 ounces of gold in September, extending its buying streak to 23 consecutive months, according to BigGo Finance. The September total marks the strongest monthly pace since March, suggesting the institution has not paused its accumulation despite elevated gold prices.

The scale of the buying matters for how markets read official-sector demand. Central bank purchases can absorb supply that would otherwise reach private investors, and a sustained, multi-year program signals a structural bid rather than a short-term trade. When a major reserve holder buys at an accelerating pace, it can reinforce the narrative that gold remains a preferred reserve asset amid currency and geopolitical uncertainty.

What to watch: whether October and November data confirm the pickup or show a return to slower, steadier accumulation. Also relevant is how other central banks respond, since coordinated official buying tends to have a larger market impact than any single buyer. For observers, the key takeaway is the persistence of the trend, not any single month's figure.