World Gold Council: In January, gold ETFs in the Chinese market saw inflows of 44 billion yuan, a record high for the start of the year.

The World Gold Council released its "Monthly Review of the Chinese Gold Market." The report indicates that upstream physical gold demand in China remained robust in January: Gold outflows from the Shanghai Gold Exchange (SGE) totaled 126 tons, a slight increase of 1 ton year-on-year and 11 tons month-on-month; strong gold bar sales and increased restocking by jewelry dealers before the Spring Festival jointly supported gold demand. In January, inflows into Chinese gold ETFs reached RMB 44 billion (approximately USD 6.2 billion, or 38 tons), a record high for the start of the year, with both total assets under management (AUM) and total holdings setting new historical records. In 2026, the People's Bank of China continued to issue gold purchase announcements, pushing its gold reserves up by 1.2 tons to 2,308 tons, accounting for 9.6% of total foreign exchange reserves. (Jinshi)