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![KobeissiLetter Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::3316376038.png) The Kobeissi Letter [@KobeissiLetter](/creator/twitter/KobeissiLetter) on x 949.2K followers
Created: 2025-07-17 19:55:00 UTC

Chinese gold demand is skyrocketing:

Chinese gold ETF demand hit a record XX tonnes in Q2 2025, up from XX tonnes in Q1.

This brings total H1 2025 demand to XX tonnes, an all-time high.

As a result, total ETF holdings jumped +74% YoY to XXX tonnes.

Meanwhile, China’s central bank added +2 tonnes in June, lifting official reserves to a record XXXXX tonnes.

Furthermore, Goldman Sachs estimates that China unofficially bought XX tonnes in May on the London market, X times the officially reported figure.

China’s appetite for gold has never been stronger.

![](https://pbs.twimg.com/media/GwEndyfWUAEUY8u.png)

XXXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945935285302276468/c:line.svg)

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