China is now expediting ways to lead the global financial markets. The country has been keenly pushing for global yuan supremacy, eager to sideline the US dollar at the same time. Moreover, for many years now, China has been accumulating gold at a rapid pace, trying to stay ahead of the market curve.
Also Read: Wall Street Still Doubts Gold, Even With $5,000 Targets Rising
China Continues to Purchase Gold
Gold’s broad spectrum rally this year has taken the markets by sweet surprise. Gold continues to bank on the leading safe haven trend, inviting flocks of investors to hoard the asset. This trend has been magnified by China, which continues to accumulate gold obsessively. In the recent post by the Kobeissi letter, China continues to purchase gold, ending up buying 15 tonnes of gold in September, more than what Goldman Sachs estimated in terms of stats and valuation.
In April, the nation ended up purchasing 27 tonnes of gold, which was 13 times more than the amount that was reported. Moreover, official numbers are now showing how China has acquired another 0.9 tonnes of gold, with its total value now stable at 2304.5 tonnes.
“China continues to quietly acquire gold. China purchased 15 more tonnes of gold in September, or ~10 times more than officially reported by the central bank, according to Goldman Sachs estimates. Similarly, in April, estimated purchases reached +27 tonnes of gold, or 13 times more than officially reported. Meanwhile, official numbers show China acquired another +0.9 tonnes in October, bringing official gold holdings to a record 2,304.5 tonnes.”
KL later shared how the nation is estimated to be holding nearly 240 tonnes of physical gold, shocking the markets in a grand manner.
“Year-to-date, China’s reported gold purchases have reached +24 tonnes. Assuming official purchases continue to be just 10% of what China is actually purchasing, this suggests China has acquired +240 tonnes of physical gold in 2025. China’s true gold reserves are far larger than disclosed.”
Gold Price Prediction: What’s Next for the Asset
The price of gold is now in the $5K range, with experts like Rashad Hajiyev stating how gold is on track to hit above mentioned price range in no time.
“Gold slowly but steadily grinding higher allowing miners to catch up. I believe, the next impulsive wave could take gold to $5k with little effort…”
Also Read: UBS Turns Mega-Bullish: Gold to $4,900 as the U.S. Dollar Cracks