China's gold reserve numbers don't add up

[pmbug]

Probably not surprising to anyone here, but:

Could it be that 2,700 metric tons of gold — more than half of the world’s annual global production — is being hidden in Communist China?

The question arises in a new report from a Singapore-based newspaper and adds to mounting speculation that China has amassed a larger-than-reported stockpile of the metal that is the basis of monetary value.

The four-figure gap was discovered by economist Chen Long after he compared the total gold holdings in China — incorporating reported holdings of retail buyers, regional banks, and the People’s Bank of China — with the country’s import and production numbers.

He reckons that China’s official gold holdings last year reportedly only rose by 431 metric tons. The number for gold imports and production, however, came out to 1775 metric tons. Given that China exports a negligible amount of gold, the estimates leave 1,300 metric tons unaccounted for.

Adding that figure to the number of “missing” metric tons of gold Mr. Long estimated for 2022 — around 1,400 — the number swells up to 2,700 metric tons over the two-year period. The value of the dollar has collapsed to less than a 2,400th of an ounce of gold.

It is common to see gaps in the numbers, Mr. Long notes, but they usually only amount to a few hundred metric tons at most. “Such a huge gap is rare.”

Mr. Long offers various explanations for the discrepancy. The first being that China’s central bank has simply underreported the amount of gold it actually bought.

If it is indeed the case that all of the “missing” gold from the past two years can be attributed to the People’s Bank of China, it would mean that the bank has doubled its stated gold reserves to nearly 5,000 metric tons.
...

More:

Communist China’s Gold Reserve Numbers Don’t Add Up, Stoking Suspicions of Secret Stockpile

A new report estimates that 2,700 metric tons of gold are ‘missing,’ even as China's central bank boosts its reserves of the monetary metal.

www.nysun.com

Primary source:

The mysterious gold buyer in China

Matching the total gold holdings of Chinese retail buyers, banks and the PBOC against production and import figures, analyst Chen Long sees a gap that does not add up.

www.thinkchina.sg

 

[chieftain]

I am dubious about this claim. What would make more sense would be if the "excess" inventory was gold plated chinesium being pitched as the real deal.

 

[pmbug]

I've actually been reading reports for several years now that China doesn't (and hasn't) honestly/factually report(ed) their gold import numbers. This isn't the first time I've read a report claiming that the PBOC's numbers didn't match up or make sense with marketplace import/export numbers.

 

[WinkWink]

 

[nickndfl]

Theoretically, the Chinese could sell all their treasuries within 7.5 years or less. I believe they are replacing them with PMs.

The impact is all that inflation returns to the US and interest rates increase.

China Abruptly Sells $8,200,000,000 in US Treasuries As Dollar Extends Massive Losses - The Daily Hodl

China's US Treasury holdings have dropped to 2009 levels after its central bank sold more than $8 billion in the month of April.

dailyhodl.com

 

[SilverStacker]

I wouldn't believe anything coming out of China. Unfortunately our ridiculous enviro-mining regulations have made us far to reliant on them for rare earths which we absolutely need and its given them a lot of leverage over us. Particularly while in the middle of a huge upgrade in our High tech defense Industry, both in numbers and advanced technology.

There is some good news however but it will take time. https://www.popularmechanics.com/science/a65090515/rare-earth-coal-ash/ If you cant open the link, in short, it describes how much rare earth elements reside in our huge coal ash reserves from burning all that coal for decades.

 

[nickndfl]

Just like Chinese overtime.