China’s Gold Reserves.
Chinese Gold Reserves increased by 16 tonnes in January.
Since starting monthly reporting in July 2015, China has added 120 tonnes of gold to its reserves.
Total reported Chinese gold reserves stand at 1,778 tonnes.
Chinese Foreign Reserves fall $99.5 billion in January to $3.23 trillion.
China continues to flex its gold muscle. For the seventh 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.
Today 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).
Chinese Gold Reserves 2009-2016
China has added over 120 tonnes (value approx $4.5 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.”
Top Ten Gold Holding Nations
China has the fifth largest gold reserves of any country.
To see the top forty gold holding nations, click here
Chinese Foreign Reserves
Chinese foreign reserves fell nearly $100 billion in January.
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