Goldman Sachs estimates China bought 148 tonnes of gold, 128% above official data

Goldman Sachs has estimated that Chinese gold buyers acquired 148 tonnes of gold between May and August 2026, more than double the 65 tonnes officially reported by the People’s Bank of China (PBoC). This 83-tonne difference represents a 128% gap between estimated purchases and the reserves disclosed by China’s central bank during the same period. The sharp divergence between market-based estimates and official reserve figures has focused global attention on China’s true gold demand. On October 19, 2026, several market reports highlighted this discrepancy, with analysts referencing robust trading activity linked to Chinese buyers in London’s over-the-counter (OTC) bullion market.

Source: CoinTurk News