China isn't waiting for cheaper gold

China's central bank added 20.2 metric tons of gold in August, its largest monthly purchase since October 2023.

That makes 22 consecutive months of buying. Total holdings: roughly 2,387 metric tons.

Now look at the pace. In February, the People's Bank of China added less than a single metric ton. August's purchase was more than 21 times larger.

And that record purchase didn't come on a dip. It came in a month when gold posted its strongest gain since January.

The streak tells the same story. Twenty-two months covers gold's run above $5,000, the double-digit correction that followed, and the recovery since. China bought through all of it.

Headlines keep asking how high gold can go. Beijing is asking a different question.

Not how high, but how many.

So here's the question for your own gold: are you accumulating ounces, or waiting for a better entry?

Monetary Metals clients can lease their metal to qualified businesses and earn up to 4% yield on gold, paid in gold.

Not dollars. Ounces.

Leasing doesn't eliminate price volatility, and it isn't free of counterparty risk, but it does let a gold position grow in weight without timing anything.

An investor waiting for cheaper gold holds the same ounces all year and needs the dip to arrive.

An investor earning a yield in gold adds ounces whether the dip comes or not.

That's the part of China's playbook an individual can copy: accumulation on a schedule, not on a prediction.

China's gold now makes up 9% of its foreign exchange reserves, up from 8% just a month earlier.

You don't need a central bank's budget to adopt its discipline.

Count ounces, not entry points.

Put your gold to work.

See if gold leasing is right for you.