- China gold reserves at the end of January 2026: 74.19 million troy ounces
- In December 2025: 74.15 million troy ounces
- China gold reserves value at the end of January 2026: $369.58 billion
- In December 2025: $319.45 billion
Amid the surging run higher in prices to start the year, the value of China’s gold reserves have jumped up significantly in January. That as they increase the total amount they hold by just a bit once more.
As a reminder, the numbers we’re seeing above are just what is “officially” reported. There is a strong consensus that Beijing has been buying way more gold than what is being advertised here. Independent estimates from the likes of the World Gold Council suggest that China’s actual holdings may be double what they are reporting.
So, make what you will of the numbers above. But if anything else, it does tell us a rather clear market trend. And that is central bank buying in gold continues to ramp up over the past two years.
Amid fiscal concerns in major economies alongside the de-dollarisation push, that will just continue to keep this driver active as central banks stick with gold buying.
Despite the sharp pullback in the past week or so, gold prices are still up nearly 15% for the year so far. The early selling in Asia yesterday was met with solid dip buying conviction, with gold ending nearly 4% higher on the day to $4,964.
The next big test for gold buyers remains trying to secure a firm break above $5,000 once more. The highs last week were thwarted near $5,100 with the daily close falling back under the big figure.
