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China Bought the Most Gold Since 2023 in July. Here’s Why.

Rows of freshly cast gold bars cooling in steel molds on a refinery production line, warm furnace glow in the background — why is China buying gold at record pace in 2026

China’s central bank just recorded its largest single-month gold purchase since October 2023. The number is notable. The structural reason behind it — a 19-percentage-point reserve allocation gap that no short-term price move will close — is what every gold owner needs to understand.

Gold Hit a Two-Week High This Morning. Three Forces Arrived at Once.

Gold price today: triptych showing a military drone at sunset over distant fires, the Federal Reserve building at dusk, and an active trading floor with a rising gold price line threading across all three panels

Gold climbed to a two-week high on July 22, 2026, rising more than 1% to near $4,130. Three forces arrived at the same time: US airstrikes on Iran entered their 11th consecutive night, the Federal Reserve’s blackout period began, and thin summer positioning is amplifying every safe-haven inflow. Here is the mechanism behind each one — and why all three together matter more than any single catalyst.

Gold Price Outlook July 2026: The Price Fell. Case Intact.

Gold bullion bar resting on dark stone surface, gold price outlook July 2026

Gold trades 28% below its January record as Fed rate-hike expectations weigh on real yields. The structural case — central bank buying, fiscal expansion, reserve diversification — has not reversed. Here is what the macro picture means for gold holders in July 2026.

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