Tag Archives: Peoples Bank of China

China’s Gold Imports On Track For A New Record

Despite the erroneous mainstream media reports that China’s demand for gold is trending lower, based on the withdrawal figures from the Shangai Gold Exchange, China’s demand for gold YTD is tracking at a record annual rate.

The reason that mainstream sources for gold imports into China – like the World Gold Council and GFMS/Thomson Reuters –  are highly inaccurate is that they only track the amount of gold exported to Hong Kong , the numbers of which are released to the public. However, China also now imports gold through Beijing and Shanghai.  Those numbers are kept secret by the Chinese Government.  Thus, it is impossible to gauge Chinese import demand for gold base on the numbers published out of Hong Kong.

YTD through May 22, 945 tonnes have been withdrawn from the SGE.  While the rate of deliveries to the SGE have been slowing the past two weeks, this is a function of seasonal patterns.   The reason the amount of gold withdrawn from the SGE is the best barometer of demand for gold in China is that, by law, all gold bought and sold in China must be transacted through the People’s Bank of China.  The PBOC uses the SGE for this purpose. However, this does not represent the total amount of annual gold demand in China because it does include any gold purchased by the PBOC, as the PBOC does not have acquire its gold from the SGE.

Mineweb.com’s Lawrence Williams wrote an article China’s YTD gold demand and the possible implications of China’s heavy accumulation of gold:

We keep seeing reports in the mainstream media suggesting that Chinese gold demand is slipping away, but continuing strong gold withdrawal figures from the Shanghai Gold Exchange (SGE) seem to contradict these reports. While, as we have reported before, there are many doubts expressed as to whether SGE withdrawals are actually equivalent to Chinese consumer demand, there is no doubt that they do represent the underlying consumption situation.

You can read the rest of this article here:   China’s Gold Demand Is Holding Up Well


SoT Ep 25 – Jeff Brown: The Rot Of Empire

Think about it guys, with all the shenanigans going in Europe with melted gold and phantom gold in the United States, the [Hong Kong] jewelers probably feel like their gold is safer in China than they do anyplace else.  – Jeff Brown, in reference to China’s first private depository (1500 metric tonnes) right across the border from Hong Kong

The Shadow of Truth hosted a special guest, Jeff Brown, who has been living in China for the last 5 years and for a total of 12 years.  He wrote a book called “44 Days Backpacking in China:  The Middle Kingdom in the 21st Century, with the United States, Europe and the Fate of the World in Its Looking Glass.”  He also writes a weekly column, “Reflections on Sinoland – Reporting from the Belly of the New Century Beast”  (44Days link).   He’s also writing Xi JinPing’s (General Secretary of the Communist Party, President of China) diaries.

One of the topics we discuss is the location of the main gold vault of China’s Central Bank – the “Ft. Knox” of China.  We also chat about the theory that “behind the scenes” the U.S. and China are in collaboration on planning the New World Order.   Jeff resoundingly dispels this view:

The Chinese don’t like us – I’m writing Xi JinPing’s diaries – I read all this stuff in Chinese – they don’t like us.  – Jeff Brown, Shadow of Truth

Jeff is a wealth of knowledge in terms of understanding the context of China’s transformation into a global economic power.  As we all know, it is becoming exceedingly difficult to get truthful reporting on anything from U.S. media about China.  Jeff will be our “eyes and ears” on the ground in Beijing.  He will be able to pull back the western propaganda and expose the real China.

This is a fascinating interview from someone who will really open your eyes about is going on in China:  “we are now in the Xi era and he is everywhere.   He is in Kazakhstan this week, he is in Belarus, he is in Moscow…he was just in Indonesia and Pakistan.  Modi is coming from India after Xi gets back from Moscow for the WW2 commemeration…there’s Chinese ships are in the Black Sea docking at ports in Russia…the west has no answer for Xi JinPing.”