Just how much Gold does China really have?

Discussion in 'Gold' started by Aurora et luna, Aug 4, 2019.

?

How much gold do you think China has?

  1. 2000 tons

    0 vote(s)
    0.0%
  2. 3000 tons

    0 vote(s)
    0.0%
  3. 5000 tons

    10.5%
  4. 6000 tons

    0 vote(s)
    0.0%
  5. 8000 tons or more

    89.5%
Multiple votes are allowed.
  1. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    With Central Banks continuing to buy gold to add to their reserves, China's current reserves of 1905 metric tons as reported by xinhuanet is starting to look a bit dodgy.
    The last time they announced their gold reserves four years ago, it was 1658 metric tons.
    As they are the largest gold producer in the world with approx 400 tons produced per annum which I believe is not exported as well as surreptitiously importing more each year, it's really difficult to believe their numbers.
    Any links to a more credible figure or guessestimate would be appreciated.

    http://www.xinhuanet.com/english/2019-05/07/c_138040544.htm

    https://tradingeconomics.com/china/gold-reserves

    https://www.forbes.com/sites/shuchi...s-where-is-all-the-missing-gold/#43f1d62e76c0
     
  2. ozcopper

    ozcopper Administrator Staff Member

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    8000+ Gold tons. They also have a lot more debt than stated too.
     
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  3. alor

    alor Well-Known Member Silver Stacker

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    their people are encourage to buy gold, the opposite of India, trying to cap their people from buying silver
    may be whatever is left is kept by the state, so we see very small number
    the wealth of nation is not the same as the government
     
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  4. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    If anyone believes any official PRC financial reports, I've got a bridge to sell you.
     
  5. alor

    alor Well-Known Member Silver Stacker

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    sovereign wealth funds holding is not report able
     
  6. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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  7. JulieW

    JulieW Well-Known Member Silver Stacker

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    You'd never know, but I'd expect towards 20,000 tonnes easily, and probably 30,000 is a reasonable guess.

    Even with the depredations of those who took what they could to Taiwan, and Mao's funding the revolution, there was still 5,000 years of hoarding as a base to start from.

    As far as I know China hasn't been selling any of its mining, plus you've going on to a decade plus of private gold ownership by a billion citizens who just love gold to their bones.

    (here's a thought: let's say 1% of the population has an ounce in the family strong box, that's 10 million ounces which, if the PRC said "be good and give us your gold for the greater good", would add around 300 tonnes to the PRC stockpile - and I don't doubt most citizens would hand over their ounce. .)

    And then there's all those loans to gold mining/holding nations who've enjoyed the largesse of Chinese lenders, and who've shown they're happy to take ports, railways and gold as repayment media. Gold "on tick" so to speak.

    The guesses are 338 billionaires and 89,000 millionaires (USD) in China currently. Let's say a gold loving billionaire has a ton or so in gold cutlery and kilo bars etc, and your gold loving millionaires have 100 kilos apiece, and all at the click of a patriotic call to help out "Our Land" (or a simple tax or theft!).

    Pretty soon you're looking at China at the top of the gold owning nations if there's an IMF gold inspector sent to allocate the new world order SDR units.

    All joking aside, it's China's century by the looks of it, and there's an admirable and frightening long term strategy in most things China sets as targets, and having lots of accessible gold within its borders has been in its plans for nearly 30 years now.

    And would YOU believe their answer on tonnage at this point in the games?
     
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  8. alor

    alor Well-Known Member Silver Stacker

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  9. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    All this talk of China hoarding a colossal stash of Gold reminded me of Looper. Notice whose likeness is on the paper currency.



    I don't expect China would go gold-backed Yuan any time soon, but eventually, some kind of exchange stabilization mechanism where gold is the ultimate collateral asset?
     
    Last edited: Aug 11, 2019
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