Chinese Gold Reserves increased by 9.02 tonnes (290,000 ounces) in March.
Since starting monthly reporting in July 2015, China has added about 139 tonnes of gold to its reserves.
Total reported Chinese gold reserves stand at 1,797.343 tonnes.
Chinese Foreign Reserves rise from $3.20 trillion in February to $3.21 trillion in March.
China continues to flex its gold muscle. For the ninth 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).
Last month, 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. The February addition of just 9.9 tons (320,000 ounces) was the smallest amount reported since China began regular reporting in June 2015.
Today the People’s Bank of China announced that its gold reserves grew from 57.5 million ounces to 57.79 million ounces an increase of 290,000 ounces or 9.02 tonnes. Today’s report is smaller than last months report, perhaps confirming a trend that the Chinese gold train is slowing down.
China’s Declining Foreign Reserves
March’s nine 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. March’s report is the second month in a row that China has added less than ten tons of gold to its reserve. China’s foreign reserves have been falling steadily for nearly a year but rose in March. Despite generally declining reserves China has continued to add gold to its reserves, albeit at a slower pace recently.
Chinese Gold Reserves 2009-2016
*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
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China’s U.S. Treasury Holdings
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