Lear Capital Spotlights China's Expanding Role in the Global Gold Market
Analysts Estimate China's Gold Purchases Could Reach 250 Tonnes in 2025 — Potentially Ten Times Official Figures — as De-Dollarisation Strategy Accelerates
LOS ANGELES, Dec. 2, 2025 /PRNewswire/ -- Lear Capital, a leader in precious metals investing since 1997, is drawing attention to emerging analysis suggesting China may be accumulating gold reserves at levels far exceeding publicly disclosed figures, reflecting intensifying global efforts to diversify away from the U.S. dollar.
While the People's Bank of China reported minimal gold purchases in recent months — just 1.9 tonnes in July and August and 2.2 tonnes in June — market analysts believe these numbers represent only a fraction of China's actual accumulation. Societe Generale analysts, examining trade flows and customs data, estimate China could acquire as much as 250 tonnes of gold in 2025, potentially representing more than a third of expected global central bank buying.
"What we're witnessing is a significant shift in how major economies approach reserve asset allocation," said Kevin DeMeritt, founder of Lear Capital. "China's strategy of quietly building gold reserves while reducing dollar dependence is reshaping global precious metals markets in ways that investors need to understand."
Key Developments Driving Market Interest:
- Opacity in Official Reporting: The gap between China's disclosed purchases and estimated actual accumulation has made it increasingly difficult for traders to assess true market demand, especially as central banks have become the dominant force behind gold's record rally.
- Strategic De-Dollarisation: Industry experts, including Jeff Currie, chief strategy officer of energy pathways at Carlyle, note that China's accumulation aligns with its long-running strategy to reduce reliance on the U.S. dollar as a reserve currency.
- Hidden Reserve Estimates: Bruce Ikemizu of the Japan Bullion Market Association estimates China's actual gold reserves may be closer to 5,000 tonnes — roughly double its reported holdings — based on indirect market indicators and trading patterns.
- Global Reserve Shift: World Gold Council data reveals that gold's share of global reserves outside the U.S. has surged from 10% to 26% over the past decade, establishing bullion as the world's second-largest reserve asset after the dollar.
"The lack of transparency around Chinese gold accumulation creates a challenging environment for accurately reading market dynamics," DeMeritt added. "However, what's clear is that institutional confidence in precious metals continues to grow, particularly among central banks seeking to hedge against currency risk and economic uncertainty."
Traders have turned to indirect indicators to gauge China's activity, including orders for freshly cast 400-ounce bars with sequential serial numbers, typically refined in Switzerland or South Africa, routed through London, and flown to China. These signals suggest accumulation far exceeding official disclosures.
For investors seeking to understand how these global developments may impact precious metals markets and portfolio diversification strategies, Lear Capital offers comprehensive analysis and personalized guidance.
To learn more about precious metals investment opportunities, visit LearCapital.com or call 800-576-9355.
About Lear Capital
Since 1997, Lear Capital has been a trusted name in the precious metals industry, providing expert guidance and tailored solutions for investors. With a commitment to transparency and customer education, Lear Capital empowers clients to make informed decisions about incorporating gold, silver, and other precious metals into their long-term financial strategies. To date, the team has handled more than $3 billion in trusted transactions, serving over 100,000 investors.
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SOURCE Lear Capital