China’s central bank has extended its gold-buying streak to eighteen consecutive months, adding more bullion to its reserves in April according to latest data. The People’s Bank of China remains one of the world’s largest sovereign gold buyers, and this sustained accumulation signals robust institutional demand for the precious metal continues unabated despite elevated price levels.
The persistent buying campaign, which has now stretched through more than a year and a half without interruption, underscores Beijing’s strategic efforts to diversify away from dollar-denominated assets and strengthen its reserve position. This sustained demand from one of the world’s most significant central bank buyers is providing fundamental support to gold markets and contributing to price stability near historic highs.
The move comes as global central banks collectively maintain strong appetite for gold amid ongoing geopolitical tensions and currency concerns. Market participants should monitor whether other major central banks follow China’s lead in accelerating precious metals accumulation.
FXnCO Insight
Traders should anticipate continued floor support for gold prices as long as China’s central bank purchasing pattern persists, making downside breakouts less probable in the near term.
Source: FXStreet