Today, we delve into the news regarding the gold reserves by the chinese in the month of May, I go over 62.5 million ounces. For more information on the prices of gold coin investment, or other services offered by our activities, please use the contact information at the page
GOLD RESERVES BY THE CHINESE OVER 62.5 MILLION OUNCES IN MAY
The reserves of the chinese in foreign currencies rose unexpectedly in may, even if the yuan has weakened due to concerns about the escalation of trade tensions and relations between Beijing and Washington.
The largest reserve forex in the world has increased by $ 10,233 billion in the month of may to reach $ 3,102 trillion, according to data issued by the central bank of china, the People's Bank of China.
The inflows of foreign stocks and bonds, the chinese are increased, while investors are betting on an economic rebound. Strict capital controls have greatly helped China to keep under control the outflows in the last year, despite the shock caused by the outbreak of the corona virus, a prolonged trade war with the United States and weakening economic growth.
China said to hold, data is updated at the end of may (the latest available) 62,64 million ounces of gold troy of the precious metal, unchanged from the previous month.
The value of the gold reserves of the chinese rose at the end of may 2020 to 108,29 billion dollars against the 106,67 billion at the end of April, of course, due to the increase in the dollar price of gold.
However, no one really knows if the 2013,56 tons of gold declared by Beijing as the gold reserves of the people's Republic of China, correspond with the truth. According to many experts, in fact, the asian giant (the seventh place in the world to the gold state, according to data from the World Gold Council in June 2020) scanner would, in reality, a small amount of gold, more than double that of the official reserves of the USA, estimated to 8133,5 tons.
In the top ten of the holders of gold, Germany is in second place with 3363,6 tons, followed in third place by the International Monetary Fund with 2.814,0 tons, and then Italy with 2.451,8 tonnes of the precious metal.
Also on the american reserves however, there is some doubt: according to various industry analysts, in fact, at Fort Knox and in the other deposits of the FED the amount of gold held could be much less, and an important part of the ingots of the U.S. may be transferred to China as a guarantee of the large amount of debt securities american purchased in recent years by Beijing.