PBoC adds 18t gold in August, largest monthly rise since 2023, extending 22-month buying streak

China's central bank increased gold reserves by 650,000 ounces (~18t) in August, the largest monthly addition since 2023, despite record-high prices. This extends a 22-month consecutive buying streak, bringing total reserves to ~2,364t. The move signals sustained official-sector demand for gold as a reserve asset, potentially supporting gold prices and reflecting diversification away from dollar assets.