BREAKING: China’s central bank officially bought +20 tonnes of gold in August, matching its largest monthly purchase since October 2023. This follows +20 tonnes and +15 tonnes acquired in July and June, respectively, and marks its 22nd consecutive monthly gold purchase. So far in 2026, China has officially added +80 tonnes to its gold reserves, lifting total holdings to a record 2,387 tonnes. By comparison, in full-year 2025, China increased its official gold reserves by a total of +29 tonnes. In troy ounces, China added ~650,000 ounces to its reserves last month, taking its total holdings to a record 76.73 million ounces. China continues to stockpile gold at a historic pace.(The Kobeissi Letter)