China buys 48 tonnes of gold in May, the highest in over a year. XAU/USD reaching $4,600 in July 2026 at 0.5% YES.

In May, central bank bought a whopping 81 tonnes of gold, with China the largest identifiable buyer at 48 tonnes, which was the biggest monthly total in over a year.

China's PBOC has bought gold for 20 straight months, its longest streak since 1999. Here's what the de-dollarization push means for gold and crypto