China’s central bank extends gold buying to 16th month

China’s central bank (PBoC) extended its official gold purchases to a 16th consecutive month, with reported holdings rising to 74.22 million fine troy ounces at end-February from 74.19 million a month earlier. The continued accumulation signals steady official-sector demand even as prices remain elevated. PBoC data released Saturday also showed the value of China’s gold reserves increased to $387.59bn at end-February from $369.58bn at end-January. The rise in reserve value reflects both the incremental addition to holdings and mark-to-market gains from higher gold prices. Market implications: persistent Chinese central-bank buying remains a key structural tailwind for bullion, reinforcing the bid beneath dips and supporting the “official sector put” narrative. Near-term focus is on whether the monthly pace of additions accelerates or stays marginal; upcoming reserve updates and broader central-bank flow data are the next catalysts, alongside US rates/FX moves that can dominate short-term pricing.