Why China Is Importing a Record Amount Of Gold — And What It Means For Prices

China imported more than 1,000 tonnes of gold worth a record $158.8 billion during the first eight months of 2026, surpassing its total imports for all of 2025. The surge is driven by the Chinese central bank’s efforts to reduce reliance on the U.S. dollar, along with households seeking safer investments amid a struggling property market and weak stock performance. Analysts say sustained Chinese gold purchases could help support global gold prices, although higher U.S. interest rates and bond yields may limit further gains.