China Boosts Gold Reserves by 9.9 Tonnes In February

Chinese Gold Reserves increased by 9.953 tonnes (320,000 ounces) in February.

Since starting monthly reporting in July 2015, China has added about 130 tonnes of gold to its reserves.

Total reported Chinese gold reserves stand at 1,788.323 tonnes.

Chinese Foreign Reserves fall from $3.23 trillion in January to $3.20 trillion in February.

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China continues to flex its gold muscle. For the eight time in as many months, China has updated its gold reserves.

In June 2015, China updated its gold reserves for the first time since 2009 by reporting an additional 604 tonnes. In August 2015, China updated its gold reserves for July adding 19.4 tonnes. In September, China reported adding 16.15 tonnes of gold to its reserves during the month of August.

In October 2015, Bloomberg reported that China “probably added 15 tons based on dollar value of assets” in September.

In November 2015, Bloomberg reported that “China Probably Raised Gold Hoard Again in October Adding 14 Tons.” In December 2015, Bloomberg reported that in November China added 21 tonnes of gold to its reserves, the most it has added in five months.

In January 2016, Reuters reported that China has added another nineteen tonnes of gold to its reserves. In February 2016, the People’s Bank of China announced that it has raised its gold reserves to 57.18 million ounces (1778 tonnes) by adding another 16.02 tonnes of gold to its reserves (worth about $616 million).

Today, the central bank of China announced that its gold reserves were 57.5 million (1,788 tonnes) at the end of February up from 57.18 million (1,778 tonnes) at the end of January.

China’s Declining Foreign Reserves

February’s nearly ten tons of gold added to the People’s Bank of China’s reserves was the smallest amount added since China began reporting monthly gold reserves last summer. China’s foreign reserves have been falling steadily for nearly a year and fell again in February. According to economists, a decline in foreign reserves implies net capital outflows that were estimated by to be $65 billion in February compared to estimated outflows of $136 billion in January.

Chinese Gold Reserves 2009-2016

chinese gold reserves February 2016 -2009-2016

China has added over 130 tonnes (value approx $4.75 billion) of gold to its reserves since July 2015* (while selling over a half a trillion dollars of foreign reserves).

*many suspect that China has under reported its gold reserves. See “The Case of China’s Missing Gold and “China’s President Confirms Practice Of Moving Official Reserve Assets To Other Entities In China.

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Top Ten Gold Holding Nations

gold reserves top ten nations March 2016

China has the fifth largest gold reserves of any country.

To see the top forty gold holding nations, click here.

China’s U.S. Treasury Holdings

As of December, 2015, China held $1.246.1 trillion in U.S. Treasury Bonds.

chinese holdings of us tbonds jan 14 -dec 15

Chinese Treasury Bond Holdings fell $18.2 billion in December 2015.

For a monthly update of the top foreign holders of U.S. Treasury Bonds click here.

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Russian and Chinese flags – CanStockPhoto

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Further Reading:

The Case of China’s Missing Gold

Shanghai Gold Exchange Withdrawals (weekly archive)

Chinese Gold Reserves (monthly archive)

Russian Gold Reserves (monthly archive)

India and Gold

Indian Gold Charts

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