On April 7th, the official reserve asset data released by the People's Bank of China showed that as of the end of March 2026, China's gold reserves had reached 74.38 million ounces (approximately 2,313.48 tons). The central bank of China has increased its gold holdings for the 17th consecutive month. Amidst the clamor of &#34;some getting off the bus,&#34; why has the People's Bank of China chosen to &#34;increase its position against the trend&#34;? What deep signals are being released in this &#34;national game&#34; regarding gold?
For ordinary investors, increasing gold holdings often indicates a bullish outlook on gold prices.
This is a defensive hedge against the U.S. dollar credit system. In recent years, dollar-related operations have made non-U.S. economies around the world uneasy. In this context, gold, as a &#34;hard currency&#34; not subject to the intervention of any single country's sovereignty, has its safe-haven properties surpassing mere anti-inflation considerations.
As international partners' willingness to hold renminbi increases, a strong credit endorsement is needed. The increase in physical gold reserves, as the ultimate means of international payment, adds a layer of &#34;heavy metal&#34; backing behind the renminbi, which helps enhance the confidence of emerging market countries in holding renminbi assets.
Market Game: Is a pullback a &#34;gold pit&#34;?
Data from the World Gold Council shows that even in February 2026, when prices were high, global central banks still achieved net purchases, primarily from countries committed to diversifying their foreign exchange reserves.
Risk Warning: Any information or opinions provided in this article are for reference only and do not constitute investment advice for anyone. Investors should not make buy or sell decisions based solely on this, otherwise they bear the investment risks themselves

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GOLD

The People's Bank of China announced that by the end of March 2026, gold reserves had reached 74.38 million ounces, marking 17 consecutive months of gold accumulation. This move reflects the central bank's defensive hedge against the dollar credit system, with gold's safe-haven properties as hard currency becoming increasingly important. As international confidence in the renminbi strengthens, the increase in gold reserves provides a stronger credit endorsement for the renminbi. Despite market fluctuations, global central banks are still actively increasing their gold holdings to achieve diversification of foreign exchange reserves

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Central Bank's "17 Consecutive Increases" in Gold Reserves: Continuing to Strengthen Diversification of Foreign Exchange Reserves