连续15个月增持！金价波动不改央行增持节奏

Core Viewpoint - The article highlights China's continuous increase in gold reserves and foreign exchange reserves, indicating a strategic shift towards enhancing the safety and stability of reserve assets amid global economic uncertainties [3][8]. Foreign Exchange Reserves - As of the end of January 2026, China's foreign exchange reserves reached $339.91 billion, an increase of $4.12 billion from December 2025, marking a 1.23% rise and a ten-year high [3][5]. - The foreign exchange reserves have remained above $3.3 trillion for six consecutive months [4][5]. - The increase in reserves is attributed to the depreciation of the US dollar and the overall rise in global financial asset prices, influenced by various economic factors [6][7]. - The US dollar index fell by 1.4% to 97.0 in January, with major non-dollar currencies appreciating against the dollar [6]. - The overall performance of global stock markets was positive, with the S&P 500 index rising by 1.4% and the European Stoxx index increasing by 3.4% [6]. Gold Reserves - As of January 2026, China's official gold reserves stood at 74.19 million ounces, an increase of 40,000 ounces from December 2025, marking 15 consecutive months of gold accumulation [3][8]. - The increase in gold reserves reflects a broader trend among global central banks to enhance their gold holdings as a hedge against dollar asset volatility and geopolitical risks [9][10]. - The World Gold Council reported that global physical gold demand surpassed 5,000 tons in 2025, a historical high, indicating strong interest from central banks and investors [10]. - The gradual accumulation strategy employed by China's central bank aims to mitigate market volatility and provide stability signals to the market [10].