The World Gold Council's latest report highlights a significant surge in China's gold market, with gold ETF inflows reaching a record 4.4 billion yuan (approximately USD 6.2 billion) in January 2026. This marks the highest inflow for any January on record, with total assets under management and holdings also hitting all-time highs. The report also notes robust physical gold demand, with the Shanghai Gold Exchange recording 126 metric tons in outflows, a slight increase from the previous year. Strong bar sales and restocking by jewelry retailers ahead of the Spring Festival bolstered demand. Additionally, the People’s Bank of China increased its gold reserves by 1.2 metric tons, bringing total reserves to 2,308 metric tons, which constitutes 9.6% of the country's foreign exchange reserves.