Foreign: China’s central bank expanded its gold reserves for the 19th consecutive month through May, adding 320,000 ounces to 74.96 million ounces (about 2.332 tons), according to data released by the People’s Bank of China on June 7, 2026. China’s total foreign exchange reserves reached $3.44 trillion at the end of May.
According to CGTN on June 7, 2026, globally, gold has overtaken the U.S. dollar as the leading reserve asset. According to the European Central Bank’s annual report on the international role of the euro, released on June 2, gold accounted for 27% of total global official reserves at the end of 2025, while the share of US Treasury securities fell from 25% to 22%.
This is the first time that gold has overtaken US government debt as the largest component of global central bank reserves, reflecting a strategic shift towards diversification away from a reliance on a single currency.
The central bank’s continued gold purchases are not just a simple adjustment of its asset structure, but a highly strategic and forward-looking deployment of gold as a strategic resource amid a profound restructuring of global macroeconomic and geopolitical dynamics, Gu Fengda, chief analyst at Guoxin Futures, said in an interview with Caijing, a prominent business magazine.
Editor: Nai Tola
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