The post China’s 15‑month gold buying spree lifts official reserves steadily even as rally stalls appeared on BitcoinEthereumNews.com.

China’s central bank has kept buying gold for 15 straight months, even as the entire precious metals market took a nosedive at the end of January. The People’s Bank of China added 40,000 troy ounces to its reserves in January. That’s the latest addition since it started its buying streak back in November 2024. While China kept loading up, the rest of the market got crushed. Gold and silver hit record highs in January after waves of speculative bets pushed prices up too fast. Then everything fell apart. On January 30, gold dropped 10% in a single day. Silver fell even harder, down 16%. Copper also got slammed, dropping 5.7% during the same session. That morning was one of the worst for metals in years. Prices have tried to bounce back, but the entire market is still shaky. US hedge funds cut positions as traders get wiped out As the crash unfolded, speculators ran for the exit. Hedge funds and big traders dumped gold fast. Bullish positions were cut by 23% in just one week. That left net-long positions at 93,438 contracts, the lowest in over three months, based on U.S. trading data through February 3. That was the biggest drop since October. While traders were dumping gold, central banks were still stacking. Global official purchases reached over 860 tons in 2025. That’s down from the 1,000-ton pace seen in each of the last three years, but it’s still a heavy total. The World Gold Council expects more steady buying this year, with China clearly leading the charge. Back on the mainland, things weren’t much calmer. Gold-backed ETFs in China saw their worst day ever for withdrawals. On Tuesday, the four biggest ETFs (Huaan Yifu, Bosera, E Fund, and Guotai) lost about 6.8 billion yuan, which is close to $980…

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Filed under: News - @ February 7, 2026 6:19 am