On December 7th, the State Administration of Foreign Exchange (SAFE) released data on the scale of China's foreign exchange reserves as of the end of November 2025. By the end of November 2025, China's foreign exchange reserves stood at 3,346.4 billion US dollars, up 3 billion US dollars or 0.09% from the end of October. In addition, data showed that China's gold reserves reached 74.12 million ounces at the end of November, an increase of 30,000 ounces month-on-month, marking the 13th consecutive month of gold purchases.
According to data from the World Gold Council (WGC), global central banks net purchased 53 tonnes of gold in October, representing a 36% month-on-month surge. This volume hit the highest monthly net purchase record so far this year. Meanwhile, international gold prices have broken historical peaks more than 50 times within the year, with a cumulative return rate exceeding 60%, emerging as one of the best-performing assets globally.
