外汇储备创年内新高 央行连续11个月增持黄金

Core Insights - As of September 2025, China's foreign exchange reserves reached $333.87 billion, marking a $16.5 billion increase from August, the highest level since December 2015 [1] - The increase in reserves is attributed to macroeconomic data, monetary policy, and asset price changes, with a stable economic environment supporting this growth [1][3] - The People's Bank of China has been increasing its gold reserves for 11 consecutive months, with a total of 7.406 million ounces (approximately 2303.523 tons) as of September, reflecting a strategic balance in reserve optimization [2][3] Foreign Exchange Reserves - The foreign exchange reserves rose by $16.5 billion in September, driven by a combination of asset price changes and currency fluctuations [1] - The dollar index remained stable at 97.8, with the market having priced in the Federal Reserve's interest rate cut, leading to a release of downward pressure on the dollar [1][2] Asset Prices - Global asset prices saw an overall increase, with the S&P 500 index rising by 3.5% in September, supported by the Federal Reserve's liquidity release [2] - The Japanese Nikkei index increased by 5.4%, and the European Stoxx index rose by 1.2%, indicating strong performance in major economies [2] Gold Reserves - The People's Bank of China increased its gold reserves by 40,000 ounces in September, although the increase was lower than previous months [2] - The gold price saw a cumulative increase of over 10% in September, the largest monthly gain in 14 years, indicating strong demand for gold as a safe-haven asset [2][3] Economic Outlook - The ongoing uncertainties in global trade and geopolitical factors are expected to drive continued demand for gold from central banks and investors [3] - China's economic stability and high-quality development are anticipated to support the maintenance of foreign exchange reserves [3]