from Bullion Star:
As we are approaching the moment the PBOC unveils they have more physical gold in reserve than what has been disclosed since 2009, 1054 tonnes, we will again analyze everything there is to find about PBOC gold purchases. Grasping the exact size of their current official gold reserves is unfortunately impossible, but if we understand why, “not-knowing” actually forms a piece of the puzzle. The purpose of this post is to get an overview of all data and clues in order to separate the facts from speculation. From there we’ll estimate how much above ground gold is held in China mainland – official (PBOC) and private reserves.
I have been writing for a long time the PBOC does not buy any gold trough the Shanghai Gold Exchange (SGE), therefor PBOC purchases must be seen in addition to the flows of gold going through the famous bourse in Shanghai. However, I deem it necessary to contemplate this assumption one more time. I’ll tell you what I know and what I think.
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