We're in April 2015, exactly 6 years after China disclosed its gold reserves in 2009, which was exactly 6 years after China disclosed its gold reserves in 2003. So we expect China to disclose its gold reserves soon.
The consensus is 4000-5000 tonnes of Chinese gold holdings. This is about 600 tonnes a year or 12 tonnes per week, which is acceptable as mine supply is about 50 tonnes a week.
On the other hand, if China were to disclose it had 8000 or 10000 tonnes of gold reserves, it would paint an entirely different picture. Where would the gold come from? Not mine supply, but from the vaults of the West. This would completely disrupt confidence in the paper gold market and the U.S dollar.
So I'm eagerly awaiting the result.
That result can be found here on PBOC website.
Under the statistics and analysis department page:
http://www.pbc.gov.cn/diaochatongjisi/116219/index.html
Under 2015 money and banking statistics (updated each month):
http://www.pbc.gov.cn/diaochatongjisi/116219/116319/2161324/index.html
See gold and foreign exchange reserves statistics. Example 2015:
http://www.pbc.gov.cn/diaochatongjisi/116219/116319/2161324/2161340/index.html
http://www.pbc.gov.cn/diaochatongjisi/resource/cms/2015/08/2015081417592419609.htm
The consensus is 4000-5000 tonnes of Chinese gold holdings. This is about 600 tonnes a year or 12 tonnes per week, which is acceptable as mine supply is about 50 tonnes a week.
On the other hand, if China were to disclose it had 8000 or 10000 tonnes of gold reserves, it would paint an entirely different picture. Where would the gold come from? Not mine supply, but from the vaults of the West. This would completely disrupt confidence in the paper gold market and the U.S dollar.
So I'm eagerly awaiting the result.
That result can be found here on PBOC website.
Under the statistics and analysis department page:
http://www.pbc.gov.cn/diaochatongjisi/116219/index.html
Under 2015 money and banking statistics (updated each month):
http://www.pbc.gov.cn/diaochatongjisi/116219/116319/2161324/index.html
See gold and foreign exchange reserves statistics. Example 2015:
http://www.pbc.gov.cn/diaochatongjisi/116219/116319/2161324/2161340/index.html
http://www.pbc.gov.cn/diaochatongjisi/resource/cms/2015/08/2015081417592419609.htm
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