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macroJun 27, 2026, 9:02 PM

China Gold Imports Reach 163 Tonnes in May, Central Bank Adds 10t

China imported 163 tonnes of gold in May, the highest monthly figure since March 2024, marking three consecutive months above 150 tonnes. The People's Bank of China added 10 tonnes to its reserves, extending its buying streak to 19 months.

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China imported a total of 163 tonnes of gold in May, the highest monthly volume since March 2024, according to recent data. This marks the third consecutive month in which imports have exceeded 150 tonnes.

Over the first five months of the year, total gold imports rose 76% year-on-year to 692 tonnes. The surge has been driven by strong retail demand for physical bullion bars and low-cost gold accumulation products that allow investors to build holdings gradually.

Meanwhile, the People's Bank of China added 10 tonnes to its official gold reserves in May, its 19th consecutive monthly purchase. Total official holdings now stand at a record 2,331 tonnes.

Source: The Kobeissi Letter