• China gold reserves at the end of March 2026: 74.38 million troy ounces
• In February 2026: 74.22 million troy ounces
• China gold reserves value at the end of March 2026: $342.76 billion
• In February 2026: $387.59 billion

In terms of value, China’s reserves in gold declined on the month but that is to be expected amid the rout in precious metals since the US-Iran conflict started. That as broader market sentiment deteriorated and we see liquidations come about.

But in terms of reserves quantity, that continues to see an uptick with this being the 17th straight month of buying by Beijing. It really doesn’t come as a surprise with China being arguably the biggest buyer out there for a while now.

In any case, I’ve already said this last month but it is worth repeating that:

“Going back to China’s holdings, do be reminded that the numbers above are what is “officially” being reported. It has been speculated for the longest of time already that Beijing has been buying way more gold than what is being advertised here… independent estimates from the likes of the World Gold Council suggest that China’s actual holdings may be double what they are reporting.”