Saturday, July 18, 2015

China Breaks Silence on Gold Reserves

China ended years of speculation about its official gold holdings by revealing an almost 60 per cent jump in its reserves since 2009.

The country’s central bank said its gold reserves were 1,658 tons (53.31m fine troy ounces) as of the end of June. In April 2009, reserves were 1,054 tons.

The data means China has now overtaken Russia as the sixth largest holder of gold in the world, after the US, Germany, the International Monetary Fund, Italy and France, according to the World Gold Council. The US has gold reserves of 8,133 tons.


1 comment:

  1. Let's call Germany a nominal holder of gold. It is gold the German government is not allowed to physically hold. Perhaps they don't even have permission to sell. Tough times for US vassal states.