As China Hoards Its Gold Production, It Exports Some Of Its Silver

China Hoards its Gold Production

China boosts domestic gold production and hoards it while Indian import restrictions remain in effect.

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China is the largest gold producing and gold importing nation

Chinese Gold Mining Production

Chinese mining production chart

China is the world’s largest gold producer with mining production over 400 tons a year.

Gold Exports from Hong Kong

For the past few years there have been reports that much of the world’s gold was heading east; a good portion of it to China via Hong Kong, a major import/export precious metals hub.

The flow of gold from Hong Kong is largely imported from western nations and exported to eastern ones. Hong Kong imports gold from western countries like the United States, Canada, France, Italy, Switzerland and Mexico. Hong Kong also sources a great deal of gold from Australia, Japan and South African for export to the east, mostly to China, Taiwan, India and Singapore.

chart showing a list of  countries that export gold to hong kong for shipment to easter nations

Many western nations export gold to Hong Kong to satisfy China and other eastern nations’ demand

China has been increasing its gold reserves by purchasing gold from the west via Hong Kong

China has massively increased its gold imports

Silver Exports From Hong Kong

India increases its silver imports as restrictions on gold imports remain in effect

In March 2014, Hong Kong exported 517 tons of silver; 227 into Taiwan and 190 into India. This flow of silver was sourced mostly from countries in the east (mainly, China and South Korea) and exported to other countries in the east like Taiwan, India, Nepal, Singapore, Thailand, Malaysia and Indonesia. Silver is also exported from Hong Kong in lesser amounts to western nations like Germany, Italy, England, Switzerland, the Netherlands and the United States.

chart that shows China and Australia supply much of the silver to Hong Kong for export to India and Taiwan

China, South Korea and Australia supply much of the silver to Hong Kong for export to India and Taiwan

Silver flowing through Hong Kong is increasing and flowing mostly to india and taiwan

Silver flowing through Hong Kong is increasing to meet Indian and other eastern nations’ demand.

hong kong silver import/exports
Gold and Silver Charts Courtesy of Nick Laird.

Top Silver Producing Nations

1. Mexico
2. China
3. Peru
4. Australia
5. Russia
6. Poland
7. Bolivia
8. Chile
9. United States
10. Argentina

Source: The Silver Institute

The west is home to eight of the top ten largest silver producers. It seems that the much of the west’s silver is not exported east through Hong Kong and much of the east’s silver production, if exported through Hong Kong is shipped mostly to other eastern nations, like India and Taiwan. China does not hoard all of its silver production as it does its gold production.

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Top Gold Producing Nations

1. China
2. Australia
3. Russian Federation
4. United States
5. South Africa
6. Peru
7. Canada
8. Mexico
9. Ghana
10. Indonesia

Source: MoneyWeb via Metals Focus

China appears to horde all of its gold production, while importing massive amounts of gold through Hong Kong. A good portion of gold that China imports is from non gold producing Switzerland, a major refiner of gold. Russia also retains a large portion of its gold production and has also been increasing its gold reserves in recent years.

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Further Reading:

The Chinese Shanghai Gold Exchange Grows Exponentially

The Importance of Silver to China

Smaulgld Gold Buying Guide

Smaulgld Silver Buying Guide

Gold and Silver Price Manipulation – Suspected

Gold Continues to Flow West to East

The West Sells Paper Gold While the East Buys Physical Gold

Top Foreign Holders of US Debt

India Continues to Bring Home the Gold Despite Import Restrictions

Is a Gold Silver Supply/Demand Price Adjustment Coming?

The London Vaults are Empty

Top Twenty Countries By Gold Reserves

How Russia Can Set Off an Inflationary Spiral in the United States

Chinese House Wives Buy 300 Tons of Gold

The Silver To Gold Sales Ratio April 2014

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Think the Fed Destroyed the Dollar?

China Has More Gold Than Officially Reported

Royal Canadian Mint

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