PBOC Gold Holdings Rise 1.5% In July

29
Mon, Aug 10, 2015 - 10:33am

Last month, after finally giving the world an update on their gold reserves, the People's Bank of China promised to begin giving monthly updates going forward. That did just that earlier today.

Thanks to our good friend and loyal Turdite, StevenBHorse, for bringing this to our immediate attention. The official PBOC announcement can be found here:

https://www.safe.gov.cn/wps/portal/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gPZxdnX293QwP30FAnA8_AEBc3C1NjIxMjA6B8JE55dzMDArrDQfbhVhFsjFcebD5I3gAHcDTQ9_PIz03VL8iNMMgMSFcEAP5jfwo!/dl3/d3/L2dJQSEvUUt3QS9ZQnZ3LzZfSENEQ01LRzEwT085RTBJNkE1U1NDRzNMTDQ!/?WCM_GLOBAL_CONTEXT=/wps/wcm/connect/safe_web_store/state+administration+of+foreign+exchange/data+and+statistics/forex+reserves/official+reserve+assets/7d4f4280492356b0a10ca5fce82f097e

If you dig into today's update and compare it to last month's numbers, you can determine the increase in the official PBOC gold holdings.

Back in July, The PBOC reported a total dollar value of gold holdings at about $62.397B. By using the other data supplied in the release, we were able to determine just how much gold they were claiming to have.

  • Value: $623.97 in $US100MM
  • Gold price: $1170.236

By doing some simple math, the world discovered that China's updated gold holdings were about 53,320,000 ounces or roughly 1658.43 metric tonnes.

In today's update, the total dollar value of the PBOC's gold holdings fell to $59.238B. Ahh...but as we all know, the dollar price of gold fell sharply over the past month from the $1170.236 that the PBOC used in June to the $1095.38 used in July. The same calculation used last month yields the updated results.

  • Value: $592.38 in $US100MM
  • Gold price: $1095.38

This yields an updated total of gold holdings at 54,079,863 or 1682.71 metric tonnes.

Therefore, with it's first monthly update...and the PBOC has promised to update their numbers every month going forward...the new total of PBOC gold holdings is 1682.71 metric tonnes. This is up 24.38 metric tonnes from June or about 1.5%.

We'll be sure to watch these numbers every month, keeping in mind the words of Sun Tzu that "all war is based on deception":

“Hence, when able to attack, we must seem unable;

When using our forces, we must seem inactive;

When we are near, we must make the enemy believe we are far away;

When far away, we must make him believe we are near.”

TF

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  29 Comments

StevenBHorse
Aug 10, 2015 - 10:40am

Dammit CPE

Vanessa Lake "Im Rick James Bitch"

Taken right out from under me.

Please substitute the name Rick James for StevenBHorse.

CPE
Aug 10, 2015 - 10:41am

Now that's

Horse Sense!

CPE
Aug 10, 2015 - 10:42am

@StevenB

lol, you da man, err horse!! Great work!

StevenBHorse
Aug 10, 2015 - 10:43am

Thanks buddy

All while I was doing the laundry and tending to the ponies.

I look forward to re-entering the workforce soon.

canary
Aug 10, 2015 - 10:45am

@CPE....I love it !!!

A perfect way to start Monday.

Orange
Aug 10, 2015 - 10:46am

StevenB

I Think Fox would substitute Trump for Rick

https://www.zerohedge.com/news/2015-08-10/martin-armstrong-asks-did-fox-...

Nice to see silver pop this morning.

StevenBHorse
Aug 10, 2015 - 10:48am

I look forward to ZH posting this as well.

They got more eyeballs watching their site than we do, but if we can break it first and get the credit from ZH, then perhaps it will drive more traffic here, and benefit Turd. He does an awful lot of work for just $10/month.

mike97
Aug 10, 2015 - 10:48am

Lok at the spikes

Looks like short covering is underway.

CPE
Aug 10, 2015 - 10:50am

$10 / month

spot on Horse, today's a great day for a little free gold, sign up for free and feed the Turd here:

https://BitGold.com/r/TlY5pO

Aug 10, 2015 - 10:51am

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Key Economic Events Week of 10/14

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10/16 10:00 ET Business Inventories
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Key Economic Events Week of 9/3

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9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

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Key Economic Events Week of 8/19

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8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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