China’s Gold Reserves May Be Double What Official Reports Suggest ...Middle East

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China’s Gold Reserves May Be Double What Official Reports Suggest
source : OILPRICE ( Middle East ) () 79
According Jan Nieuwenhuijs, of Gainesville Coins, the Chinese central bank owned 4,309 tonnes of gold on December 31, 2022, which is more than double than what is officially disclosed. My estimate would make China the second largest gold reserve country after the US. The Chinese private sector holds 23,745 tonnes, bringing the total amount of gold in China to 28,054 tonnes. China and European countries are in agreement to equalize their ratios of monetary gold relative to GDP in order to prepare for a global gold standard. Introduction For estimating…

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