China's gold reserves rise 830,000 oz in October, a 24th month
SAFE data put reserves at 78.30 million ounces, about 2,435.4 tonnes, at the end of October. Eastmoney calls it the largest monthly addition since buying restarted in November 2024.
By Carat Capital
What changed
A bigger month than September. China's official gold reserves rose 830,000 ounces in October to 78.30m, the 24th month of additions, SAFE data show. Eastmoney calls it the largest since buying restarted in November 2024.
What it means
- If you model official demand: September's addition was 740,000 ounces. Caijing, on Sina, puts buying since November 2024 above 170 tonnes.
- If you trade gold into year-end: The bank added in a month when spot gold fell 6.79%, Eastmoney says.
- What this is not: An all-time comparison. Eastmoney's 'largest' runs from November 2024 only.
Key figures
| Gold reserves, end-Octoberabout 2,435.4 tonnes, SAFE data | 78.30m oz |
|---|---|
| Added on the monthOctober; over 25 tonnes, Sina reports | +830,000 oz |
| Months of additionssince buying restarted in November 2024 | 24 |
| Foreign-exchange reservesend-October, up $4.9bn on September | $3,405.2bn |
Source: State Administration of Foreign Exchange data published 7 November 2026, as reported by Sina Finance and Eastmoney; reserves at end-October 2026.
A month 90,000 ounces above September.
Two months compared. Reserves rose to 78.30 million ounces from 77.47 million at the end of September. September's addition was 740,000 ounces.
About 25.8 tonnes. In tonnes, October's addition is about 25.8 on Carat Capital's conversion, and over 25 in Sina's report. The reserve is about 2,435.4 tonnes.
| Month, 2026 | Addition, tonnes |
|---|---|
| March | about 5 |
| April | over 8 |
| May | about 10 |
| June | about 15 |
| July | about 20 |
| August | over 20 |
| September | over 23 |
| October | over 25 |
Caijing's list starts in March. SAFE publishes gold in ounces; October's 830,000 ounces is about 25.8 tonnes at 31.1035 grams an ounce, on Carat Capital's conversion.
Additions grew through 2026.
Over 25 by October. Caijing, on Sina Finance, lists additions of about 5 tonnes in March rising to over 25 in October. It puts buying since November 2024 above 170 tonnes.
Spot fell in October. Spot gold fell 6.79% in October and gold futures 7.21%, Eastmoney reports. The bank's additions have now run 24 months.
Currency reserves rose too.
Up $4.9bn. China's foreign-exchange reserves rose $4.9bn in October to $3,405.2bn, up 0.14%, Eastmoney reports from SAFE's data.
SAFE cites currency moves. SAFE says the dollar index rose in October, and that currency translation and asset-price changes, among other factors, lifted the reserves.
What to watch
- Early December 2026, SAFE's November data (date not announced)A 25th month. The test: an addition above October's 830,000 ounces.
- World Gold Council Q4 Gold Demand Trends, early 2027Official-sector buying for the quarter. The test: against the 321.2 tonnes the council reported for Q3.
The story so far
Go deeper
What would change this call
A November addition below September's 740,000 ounces would make October a peak rather than a step. A month with no addition would end the run at 24.
How the reserve figure is built
SAFE publishes China's official reserve assets each month, with gold in ounces. Tonnes here are converted at 31.1035 grams a troy ounce; Sina and Eastmoney print the tonnes they quote.
Method
SAFE's figures as reported by two Chinese outlets, both read on 7 November 2026. Sina Finance (Caijing, 112,968 bytes): '国家外汇管理局（下称"外汇局"）2026年11月7日公布的数据显示，中国10月末黄金储备报7830万盎司（约2435.4吨），环比增加83万盎司（超25吨），为连续第24个月增持黄金' (SAFE data published 7 November show end-October reserves of 78.30m ounces, about 2,435.4 tonnes, up 830,000 ounces, over 25 tonnes, the 24th consecutive monthly increase); and the monthly list: '3月增持约5吨、4月超8吨、5月约10吨、6月约15吨，7月达到约20吨，8月超20吨，9月超23吨，10月超25吨', with '已累计购金超170吨' (over 170 tonnes since November 2024). Eastmoney (62,042 bytes): '单月跌幅分别为6.79%、7.21%' for spot gold and gold futures in October, and '为2024年11月重启购金以来的最大月度增持量' (the largest monthly addition since buying restarted in November 2024); foreign-exchange reserves '34052亿美元，较9月末上升49亿美元，升幅为0.14%'. Eastmoney attributes the gold figures to 'central bank data', Sina to SAFE; this page uses SAFE. Arithmetic, ours: 77.47 + 0.83 = 78.30; 830,000 - 740,000 = 90,000; 830,000 x 31.1035 g = 25.8 tonnes. September's figures are from Carat Capital's 7 October page. 'Largest' is Eastmoney's and runs from November 2024; this page makes no comparison with earlier buying runs. No metal price is printed here; the spot and futures falls are Eastmoney's October figures.