China’s Gold Reserves.
Chinese Gold Reserves increased by 14 tonnes in October.
Total reported Chinese gold reserves stand at over 1,722 tonnes.
For the fifth 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, 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.
Last month, Bloomberg reported that China “probably added 15 tons based on dollar value of assets” in September.
Today Bloomberg reported that “China Probably Raised Gold Hoard Again in October Adding 14 Tons”
Chinese Gold Reserves 2009-2015
After adding 19.4 tonnes of gold to its reserves in July and 16.15 tonnes in August, 15 tonnes in September, China added 14 tonnes of gold to its reserves in October and has added over 64 tons of gold from July- October 2015, bringing its total gold reserves to 1722 tonnes.
While China has been adding to its reserves*, since 2009 Russia has officially been adding more as the chart below indicates:
Russian Gold Reserves 2009-2015
Russia added over 34 tonnes of gold to its reserves in September and has added 102.63 tons to its reserves from June-September bringing its total to 1353 tonnes.
*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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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)
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