For the 17th month in a row, The People’s Bank of China (PBOC) gold reserves were updated. The latest update showed that the PBOC’s gold reserves grew by 130,000 ounces (approximately 4 tons) in October.
The PBOC is not “China” but rather the central bank of China. While the PBOC may not have added much gold to its reserves in July and August, gold was still mined in China and imports of gold continued to flow into China via Hong Kong and Shanghai. This gold goes to individuals, state owned investment companies and banks and to satisfy demand on the Shanghai Gold Exchange. Gold demand in China as measured by withdrawals on the Shanghai Gold Exchange through July 2016 isdown 25% from last year through the same time period.
China only reports on gold held by its central bank, not gold held elsewhere in the country.
Chinese Foreign Reserves and U.S. Treasury Holdings
Chinese foreign reserves fell $68 billion in November from $3.12 trillion in October to $3.052 trillion, the lowest level since 2011. Chinese foreign reserves fell another $42 billion in December 2016 to $3.01 trillion.
According to the most recent report by the U.S. Treasury Department on foreign holdings of U.S. Treasury securities, China held $1.116 trillion in U.S. Treasury bonds as of the end of October 2016.
China is no longer the world’s largest foreign holder of U.S. Treasury Securities.
Chinese holdings of U.S. Treasury Securities have fallen by $139.1 billion in a year.
Chinese Gold Imports Through Hong Kong*
Chinese gold imports were 61.075 tons in October and were 669.1 tons through October 2016.
* does not include Shanghai gold imports.
Chinese Gold Mining Production
Chinese gold mining production is the largest in the world
Top Ten Gold Holding Nations
The People’s Bank of China has the fifth largest gold reserves of any country.
Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items.
You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Goldbroker, Golden Eagle Coin, Perth and Royal Canadian Mint ads on the site.
DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.
Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. You should always consult a professional investment adviser before investing in precious metals or any type of investment. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site.
The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.
The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.