Gold’s value against Bitcoin (BTC) rose about 21% from early October to Nov. 15, while October purchases by China and Poland extended official-sector demand for bullion.
An ounce of gold was worth about 0.047 BTC in early October and nearly 0.057 BTC by Nov. 15. The figures do not establish that central banks are shifting reserves from Bitcoin to gold.
Estimated net gold purchases by central banks and other official institutions totaled 321 metric tons in Q3, the highest quarterly amount since Q4 2024. The first three quarters’ total reached 675 metric tons, 6% above the same period in 2025.
China’s central bank, the People’s Bank of China, added 25.8 metric tons in October, its largest monthly purchase in three years. Poland bought 27 metric tons, bringing its reserves to its previously announced target of 700 metric tons. Reserve diversification and risk management are key motives for official gold demand.
Enna Lee
Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].
