Confirmation PBOC Doesn't Purchase Gold Through SGE
By GCRU Gold News on Saturday, October 4 2014, 12:58 - Permalink
Because we have additional consolidation about the workings of the SGE, Chinese import and PBOC purchases, the next chart is now confirmed to be fairly accurate. China holds (including September 2014) approximately 11,224 tonnes in non-government gold reserves and officially 1,054 tonnes in reserves at the PBOC. However, from various high ranking Chinese officials we know the PBOC has been steadily accumulating gold since 2009, which make current PBOC reserves likely to be 4,000 tonnes. In total there are about 15,224 tonnes of physical gold reserves in China mainland.