China has been steadily increasing its gold reserves month by month as part of its efforts to hedge against the protectionist economic policies pursued by U.S. President Donald Trump.
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Despite a temporary truce between the two countries over the trade war and reciprocal tariffs, Beijing is taking steps to prepare for any surprises Washington might introduce, viewing the precious metal as a means to support its economy.
China’s official gold reserves rose by 60,000 ounces in August 2025, reaching a record level of 74.02 million ounces.
August marked the tenth consecutive month in which the People’s Bank of China purchased gold. As a result, the central bank’s gold holdings have increased by 1.22 million ounces since November 2024.
Valued in U.S. dollars, China’s gold reserves reached $253.8 billion in August, the highest level ever recorded.
Gold now accounts for a record 7.6% of China’s total official reserves, although this remains below the global average of 22%. This is partly due to China’s massive total reserves of $3.6 trillion, including gold, making it challenging to raise the percentage significantly.
China’s gold-buying surge accelerated after Western countries froze Russian reserves following Russia’s invasion of Ukraine. The pace of Beijing’s purchases also intensified amid escalating trade tensions with Washington at the end of the Biden era and the start of Trump’s presidency.
China aims to diversify its reserves and reduce its holdings of U.S. assets as a precautionary measure against the U.S. president’s economic approach.
