China's Record Gold Buying Streak Lifts Silver's Safe-Haven Bid

The People's Bank of China added 650,000 ounces of gold in August, its largest single-month buy since 2023 and the 22nd consecutive month of accumulation, pushing total reserves to 76.73 million ounces. This sustained official-sector demand is reinforcing the broader precious metals complex, and XAG/USD typically benefits from the same flight-to-hard-assets logic driving gold.

Even as gold struggles to hold above $4,400 an ounce, the sheer persistence of central bank buying signals structural demand that historically spills into silver, given its lower price point attracts retail and institutional buyers seeking leveraged exposure to the same macro trend.

For XAG/USD traders, China's buying pattern remains a key barometer of whether the precious metals rally has further legs.