The People’s Bank of China Added 480,000 Ounces of Gold to Reserves in June.
Total reported People’s Bank of China gold reserves stand at 1823.27 tonnes.
PBOC foreign reserves rose from $3.19 trillion in May to $3.21 trillion in June.
PBOC Resumes Gold Purchases in June
For the 12th 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 480,000 ounces (14.930 tons) in June.
Last month the PBOC announced that it added no gold to its reserves, marking the first month since the PBOC began monthly gold reserves reporting in July 2015 that it showed no additions of gold to reserves.
In June 2015, the PBOC updated its gold reserves for the first time since 2009 by reporting an additional 604 tonnes.* Since then the PBOC has added another 165 tonnes of gold to its reserves.
People’s Bank of China Gold Reserves 2009-2016
The People’s Bank of China added almost 15 tonnes of gold to reserves in June 2016 and none in May*.
*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.”
PBOC’s Gold vs China’s Gold
The PBOC is not “China” but rather the central bank of China. While the PBOC may not have added any gold to its reserves, gold was still mined in China and imports of gold continued to flow into China. This gold goes to individuals, state owned investment companies and banks.
China only reports on gold held by its central bank, not gold held elsewhere in the country.
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.
To see the top forty gold holding nations, click here.
Compare Pricing and Shipping on American Gold Eagle Coins
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
Golden Eagle Coins
Money Metals Exchange
China’s U.S. Treasury Holdings
As of April, 2016, China held $1.242 trillion in U.S. Treasury Bonds up from $1.237 trillion in January 2016.
Chinese Treasury Bond Holdings fell In April.
PBOC Foreign Reserves
China’s foreign reserves had been falling steadily for nearly a year but April was the second month in a row during which The PBOC’s foreign reserves grew. Despite generally declining reserves China has continued to add gold to its reserves, albeit at a slower pace recently.
In June, China’s overall reserves rose to $3.21 trillion
China’s foreign reserves ticked up in June 2016.
For a monthly update of the top foreign holders of U.S. Treasury Bonds click here.
If you have enjoyed this report, please consider buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.