China added 26 tonnes in October, bringing its official gold holdings to 2,435 tonnes, according to Krishan Gopaul, senior analyst for EMEA at the World Gold Council. He said the total is now just 2 tonnes below France’s reserves. The purchases extend China’s run of reserve increases to two straight years.

The Czech National Bank bought 2.5 tonnes, taking its holdings to 90 tonnes—10 tonnes short of its stated 100-tonne target. Uzbekistan’s central bank added 7 tonnes. That brought the country’s net purchases for the year to 63 tonnes and its total holdings to 453 tonnes, Gopaul said.

Poland bought 27 tonnes in October, according to Gopaul, and last week its central bank said it had reached its 700-tonne reserve target. Governor Adam Glapinski indicated that further buying remains possible, saying there was “no reason why we should stop buying gold” and that reserves should grow in line with the country’s overall reserves.

The World Gold Council said third-quarter purchases were well above the five-year quarterly average of 227 tonnes. It also modestly revised its estimate for second-quarter buying upward. In its latest quarterly demand report, the council said demand was likely to remain firm in the fourth quarter, while cautioning that purchases appear responsive to gold prices. That sensitivity could support prices and limit volatility, it said, but does not establish a reliable price floor.