Over the past week, gold declined 2.6% to $3,201 per ounce, while stock markets rebounded following softer trade tariff rhetoric of the US administration. This data was reported by the online resource Gold Eagle.
American consumers remain uninterested in buying gold. However, the situation differs markedly in Asia. According to Money Metals, the People's Bank of China (PBOC) added 13 tons to its gold reserves in the first quarter of 2025, bringing official holdings to 2,292 tons.
Money Metals experts believe China's central bank likely holds significantly larger gold reserves than officially reported. Currently, the PBOC stores approximately 5,000 tons of monetary gold in Beijing—double its publicly declared holdings.
Other significant gold buyers in the first quarter were Qatar, Turkey, Egypt, and Azerbaijan.
The World Gold Council anticipates this trend will continue, as de-dollarization remains a key factor driving central banks metal buying.