China’s Gold Reserves.
Chinese Gold Reserves increased by 21 tonnes in November.
Amount is largest monthly addition since China began monthly reporting of gold reserves.
Total reported Chinese gold reserves stand at over 1,743 tonnes.
For the sixth 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.
In October, Bloomberg reported that China “probably added 15 tons based on dollar value of assets” in September.
Last month Bloomberg reported that “China Probably Raised Gold Hoard Again in October Adding 14 Tons”
Today Bloomberg reported that in November China added 21 tonnes of gold to its reserves, the most it has added in five months.
Chinese Gold Reserves 2009-2015
China’s addition of 21 tonnes of gold to its reserves is the largest monthly total since they began monthly reporting.
While China has been adding to its reserves*, since 2009 Russia has officially been adding more as the chart below indicates:
Russian and Chinese Reserves August – October 2015
Russia added nearly forty more tonnes of gold to its reserves from August to October 2015 than China did during the same period.
Russia will report its November gold reserves later this month.
*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
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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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