China's central bank has purchased gold for 23 consecutive months, adding approximately 23 tonnes in September, its largest monthly purchase in nearly three years. In the first eight months of 2026, China imported over 1,000 tonnes of gold, valued at $158.8 billion, surpassing the total imports for all of 2025. Analysts attribute this surge to Beijing's push to diversify away from the U.S. dollar and Chinese households seeking safe-haven assets amid economic uncertainties. Aakash Doshi, head of gold strategy at State Street Investment Management, forecasts gold prices to rise to $4,750-$5,500 per troy ounce by the end of Q1 2027, supported by robust demand.