China Seizes on Gold Price Dip to Import Over 1,000 Tons in Eight Months, Accelerating De-Dollarization - BigGo Finance

AI desk brief

China accelerated gold accumulation during the recent price pullback, with PBoC purchases of about 23t in September extending its buying streak to 23 months and taking reported central-bank buying to roughly 190t through August, according to cited estimates. Customs data show imports above 1,000t in January-August, spending $158.8bn, already ahead of all of 2025’s 886t record, highlighting strong official and private demand support for bullion.

The article frames the bid as both reserve diversification away from U.S. Treasuries and a domestic lack of alternatives as property and equities remain weak; China’s Treasury holdings fell to $618bn, the lowest in 18 years, while local yields and deposit rates have dropped. Several strategists quoted see this as a structural floor for gold, with State Street’s Akashi Doshi projecting $4,750-$5,500/oz by Q1 2027 and ING’s Ewa Manthey saying central-bank buying is far less price-sensitive than retail demand.