The People’s Bank of China added 0.09 million troy ounces of gold to its reserves in March, marking its fifth straight month of purchases. This follows a six-month pause after an earlier 18-month buying spree.
China’s actions reflect a wider movement among central banks worldwide to diversify their reserves with gold amid growing global trade tensions and geopolitical instability. Gold prices reached an all-time high exceeding $3,100 per ounce last month, concluding Q1 with a 19% increase. Despite recent price declines triggered by market-wide selloffs in response to President Trump’s aggressive tariff policies, analysts expect continued support for gold prices through central bank purchasing and global ETF inflows.