Central banks boost gold reserves amid investor optimism

central bank gold purchases People’s Bank of China gold ETFs inflows US inflation data Fidelity gold allocation

In the first quarter of 2026 central banks added roughly 244 tonnes of gold to their reserves, with the People’s Bank of China buying a record 15 tonnes in June – the largest monthly purchase since October 2023. Over the past 20 months the Chinese central bank has acquired a total of 82 tonnes, bringing its official holdings to 2 346 tonnes.

Chinese gold exchange‑traded funds recorded net inflows of about 40 billion RMB (≈29 tonnes) in the first half of 2026, but June saw outflows of roughly 15 billion RMB and a 17‑tonne decline after the metal’s price slipped. The drop in U.S. consumer‑price inflation – a 0.4 % seasonal fall in June, with the annual rate at 3.5 % and core at 2.6 % – eased concerns about imminent Fed rate hikes and helped sustain demand for gold.

Financial firms echoed the positive outlook: Fidelity International is weighing a higher allocation to gold, while Bank of America noted that free cash flow for midsize and large gold producers has risen about ten‑fold since 2020 and is expected to continue through 2027. Investors and central banks alike see gold as a durable store of value amid geopolitical and economic uncertainty.

Entities: Bank of America · Chinese central bank · Czech central bank · Fidelity International · Gold · Golden Gate · Marek Brávník · People’s Bank of China · Polish central bank · U.S. Federal Reserve

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 4 SOURCES] U.S. consumer‑price index fell 0.4 % seasonally in June, with an annual rate of 3.5 % and a core rate of 2.6 %. (U.S. CPI data)
[● 3 SOURCES] Demand for investment gold in the form of coins and bars remained solid, while jewelry demand stayed muted during the seasonal slowdown.
[● 4 SOURCES] In June, Chinese gold ETFs saw outflows of roughly 15 billion RMB and a 17‑tonne decline in holdings after the gold price fell. (ETF flow data)
[● 4 SOURCES] The People’s Bank of China added 15 tonnes of gold in June, the largest monthly purchase since October 2023. (central bank purchase)
[● 3 SOURCES] Fidelity International is considering increasing its allocation to gold. (company statement)
[● 4 SOURCES] In the past 20 months the People’s Bank of China bought a total of 82 tonnes of gold, raising official holdings to 2,346 tonnes. (cumulative purchase data)
[● 3 SOURCES] Chinese gold ETFs recorded net inflows of about 40 billion RMB (≈29 tonnes) in the first half of 2026, the second‑strongest half‑year on record. (ETF flow data)
[● 3 SOURCES] Bank of America says free cash flow of mid‑size and large gold producers has increased about tenfold since 2020 and expects it to continue to 2027. (analyst commentary)
[○ 1 SOURCE] Central banks added approximately 244 tonnes of gold to reserves in the first quarter of 2026. (aggregated central‑bank data)