China’s Gold Reserve Numbers Don’t Add Up, Stoking Suspicions of Secret Stockpile
Tuesday, June 25
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.
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.
Alasdair MacLeod wrote a very lengthy and well researched article in this last year for Goldmoney - well worth the read