China Central Bank's Gold Purchases and Global Reserve Policies
China's months-long gold purchases and central banks moving their reserves physically to their own territories are sparking debates in the global system.
The People's Bank of China's gold purchasing policy, maintained for 23 months, and countries physically transferring their reserves to their own territories have reignited uncertainties and debates over reserve security in the global financial system.
China's Gold Reserve Move
The People's Bank of China continued its gold-buying policy, which it has maintained for 23 months, in September, and the country's gold imports exceeded the one thousand-ton level in the first eight months of 2026.
Experts state that behind this strategy lies the goal of freeing reserves from dependence on a single currency or country.
Reserve Security and Physical Gold
Following the freezing of Russian assets, central banks have turned to physical gold to avoid external interventions and protect their reserves.
The risk that assets located in other countries may become inaccessible due to political developments is effective in countries moving their gold to their own territories.
Global Demand and Other Countries
While gold demand is not limited to China alone, Poland, India, and the Central Bank of the Republic of Turkey are among the prominent countries with their purchases.
The demand from central banks during this process is considered one of the key factors supporting prices.
US Bonds and Markets
While continuing its gold purchases, China is also reducing its holdings in US Treasury bonds and exiting this market.
Experts state that this situation is not large enough to shake the US economy on its own, but it does support gold prices.