China buys more than 1,000 tonnes of gold worth nearly $160 billion this year

The background to the large gold purchases is said to be both increased geopolitical unrest in the world and weak returns on domestic assets.

China, the world's second-largest economy, spent $158.8 billion on gold in the first eight months of the year, compared with $96.5 billion spent on the 886 tonnes of gold purchased in all of 2025.