PBOC's 22nd Straight Gold Buy Fails to Push XAU/USD Past $4,400
Created on
Last updated
China's central bank purchased 650,000 troy ounces of gold in August—roughly 20 tonnes—marking its largest single-month addition since 2023 and extending an unbroken buying streak to 22 consecutive months, the longest since Beijing began disclosing figures.
Despite this relentless accumulation, which pushed total PBOC holdings to 76.73 million ounces, XAU/USD has struggled to sustain a break above the $4,400 mark, suggesting other forces are capping upside momentum even as sovereign demand stays robust.
The disconnect between record official-sector buying and price stagnation points to profit-taking or dollar resilience absorbing the bullish impulse from central bank flows.