China "Officially" Adds Another 16 Metric Tonnes

Mon, Sep 7, 2015 - 1:33pm

In keeping with their new policy, the People's Bank of China today announced their updated gold reserves, stated as a part of their total foreign currency reserves update for August.

Again, after finally announcing a new alleged total for their gold reserves back in July, the PBoC also stated that they would begin updating their gold reserves every month going forward. Our man, StevenBHorse was the first to catch the July update back on August 10 and we posted the information here, nearly three full days before other websites caught on:

When the "official" numbers were announced three days later, it was discovered that we overstated by 20% the total number of tonnes added in July because it was still unclear as to which pricing/valuing mechanism the PBoC was using to mark their gold hoard. With another month of reporting behind us, it seems clear now that the PBoC is using the London PM fix of the last calendar trading day of their month. Recall that China was "closed" last Monday so the PM fix used was Friday, August 28 and the number was $1135.00.

To find the updated total number of ounces of gold in the "official" PBoC reserves, all we have to do is reverse the mathematical process.

Below is the official SAFE (State Administration of Foreign Exchange) update from earlier today (click to enlarge):

Again, just reverse engineer the math using the 8/28 PM fix price of $1135 and you get an addition of 514,900 troy ounces or 16.15 metric tonnes. This brings their total reported "official" holdings up to about 1,693 metric tonnes of gold.

So, while the much bigger news today is that China did, in fact, disgorge $94B in U.S. treasury securities last month (, we can also state definitively that China continues to officially accumulate gold at a pace of around 200-220 metric tonnes per year.


About the Author

turd [at] tfmetalsreport [dot] com ()


Swift Boat Vet
Sep 7, 2015 - 1:39pm

Step by Step

The 'King Dollar' dies.


Sep 7, 2015 - 1:41pm


so close but yet so far...

Sep 7, 2015 - 1:46pm

Re-post...whadda u thunk?.....

The Next Stock Market Crash will Occur On….

by John Galt
August 26, 2015 20:30 ET

The dates that I think are at the highest probabilities are as follows:

RED: 80% or Higher

YELLOW: 50-80%

PURPLE: 30-50%

BLUE: Less than 30%


While many might say that this is another “Oh My God, another prediction” posting, my theory on this is based on previous bear markets which occur after violent bull markets conclude. This one will be no different, but here are the dates of interest to my readers.

Friday September 11th:

Besides the historical importance of the date, the threats of a repeat terrorist incident for “old times sake” plus possibly great instability in Asia markets which I project for the period between the 9th through the 15th are reason to take note.

Thursday September 18th:

The fallout from the Federal Reserve rate decision either way raises the stakes of a possible massive exit of foreign funds from the US markets OR worse, a collapse in confidence of the central bank by US investors. Friday the 19th is of consequence for the same reason as this will be an ongoing issue throughout the time period.

Monday September 21st:

I’m scheduled to go deep sea fishing and whenever I’m on a boat without cell phone service US stock markets tend to crash. Regardless of that minor historical detail, I fear Asian markets will implode on the 20th creating a rolling series of global economic crises, starting in the credit markets and ending up on the doorstep of Wall Street that Monday morning. This problem will not even begin to resolve itself until the end of the week and could start the next truly defining banking crisis. I also believe that gold and silver will set their intraday and closing price lows for 2015 in the period between the 17th and 22nd also.

Friday September 30th:

No more window dressing. The markets will panic after they realize whatever Federal Reserve action is undertaken is irrelevant and causes a complete loss of confidence in Janet Yellen, the policies of the Fed, and the US government as a whole. IF this does indeed happen, the markets could correct in an extremely violent fashion with record declines in price and volume.

If September is as insane as I fear it will be, I shall publish the October projections of the calendar between the 22nd to 28th.

Feeling like Safety offence bro.. ;)

Sep 7, 2015 - 1:48pm


I'm verclempt...

Sep 7, 2015 - 1:55pm


Just watching the douche bank golf on NBC

Go Henrick

Enjoy family and the BBQ on this last day so summer vacation

Thank God school starts tomorrow


Sep 7, 2015 - 1:56pm

The latest Bank Participation Report

This was released back on Friday and you can find it here:

I'd comment on this now but I'm already infuriated and disgusted by the numbers...and it's a holiday when I'm supposed to be relaxing and having fun.

Let's just say this...Over four weeks from 8/4-9/1, price rose by $49 or about 4.5%. Over that same time period, THE EVIL CORRUPT BANKS nearly doubled their net short position from -38,528 contracts to -72,347 contracts.

Sep 7, 2015 - 2:00pm
Sep 7, 2015 - 2:01pm


FFS, ...Go back to your family to enjoy ya holiday! Leave the computer...NOW!

Sep 7, 2015 - 2:25pm

My Prediction

For a crash. The 20th. It's my birthday man what a present. Lol

Sep 7, 2015 - 2:25pm

My Prediction

For a crash. The 20th. It's my birthday man what a present. Lol

Sep 7, 2015 - 2:35pm
Sep 7, 2015 - 2:43pm


Unless you can do spread betting in the UK ....which is considered gambling and non are fuct bro....taxman will have yo those of us's a great opportunity...

All the best .....yereverlovinunkleowtovit.....mwahahahahaha

Swift Boat Vet TF
Sep 7, 2015 - 3:02pm

What was the outcome ....

Of the meetings between the new Saudi King and our A Number 1 Chief negotiator? I haven't read a thing about agreement(s), arguments or anything.


Sep 7, 2015 - 3:31pm

@ Swift Boat Vet

There will be a news release after tonight's dinner. smiley

(they're having baby back ribs, collard greens and long pig)

Sep 7, 2015 - 3:49pm

Intreesting chart


I think I'll print that chart and keep track... interesting.

And that S&P 500 chart is looking exactly like that dead cat bounce pic.

Mr. Fix
Sep 7, 2015 - 3:57pm

16 tons, and what do you get?

Another day older, and deeper in debt.

​Tennessee Ernie Ford called this one right.

Sep 7, 2015 - 4:44pm


has not happened yet. Indices will fall to new lows within 1-2 weeks. Then a relief rally will occur that will retrace at least 50% of the recent loss. VIX will drop. MSNBC will give the coast is clear. The greater fools will buy the dip for the last time. Then a wave down will commence that will erase most of the gains from QE3. Perhaps support will be found at 2012 highs. That will hold for a while and then the "other" leg of the bull market will be wiped out. Projections have been given for lows lower than 2008-9 lows. Yikes.

Sep 7, 2015 - 4:47pm

Banks add to shorts

Turd, does this mean that there is a higher chance of getting that last flush down in gold and silver?

Sep 7, 2015 - 4:47pm

Some August employment numbers

HMMM......Wonder how many of the Native born had to also suffer the indignity of having to train their Foreign born replacement......ala Disney for example

Sep 7, 2015 - 4:52pm

talking about incoherent...

get a load of this incredible stream of tripe:

Allow me to paraphrase "as U.S. interest rates are normalized beginning in October and the dollar depreciates from a global rebalancing of foreign reserves, we can also expect gold to depreciate... [wait for it] in favor of flight to (other) safe haven currencies, the euro and yuan and the emergence of the sdr."

Man, is this guy getting way too full of himself, or what?!

To his credit, he's hedging on volatility, and concludes with the following:

"Funny, while we are told it’s the increase in interest rates, and the overall normalization of monetary policy by the Fed, which will push gold into appreciating, it is actually the opposite. But take heart, the opportunity to buy gold at even lower prices than today will provide future generations with stable wealth growth as the precious metal begins to appreciate again over the coming decades."

Sep 7, 2015 - 5:08pm


How did all those American Indians get those jobs in the first place?

Sep 7, 2015 - 5:28pm

Best FED putdown of the past 10 days

I nominate James Howard Kunstler for this:

"I’d say [Yellen] lost her mojo, and the lesser viziers on the Fed board are looking more and more like the larval, sunken-chested dweebs that they really are."

My emphasis ;^)

Sep 7, 2015 - 5:43pm

For everyone saying we are going

back to the dark ages, I suggest they read The Forgotten Depression 1921: the crash that cured itself by Jim Grant


Sep 7, 2015 - 5:56pm

@MeOW....Poor kitten...hope he/she is OK.

I have opposite feeling toward DOW.

Sep 7, 2015 - 6:02pm

When Yellen was elected...

...was considered to be a"super dove"....Is she still one now?

Sep 7, 2015 - 6:08pm

Ricky Fowler

TKO in 18

4 oz
Sep 7, 2015 - 6:34pm


Why does something like this get announced right freaking now??

Been so tempted this whole long weekend & hoped to go Buffalo hunting tomorrow....??

2015 $50 American Gold Buffalo 1 oz. (Brilliant Uncirculated) (Sealed)

Sep 7, 2015 - 6:42pm

I thought philosophy of metrics

wrote a long article recently that said gold was going to $800 and staying there or lower. Maybe I am mistaken

But that would be a significant change on his part


Sep 7, 2015 - 6:46pm


What? Explain since I don't follow everything?

exit: been wanting a buffalo but got some owls 

4 oz
Sep 7, 2015 - 8:22pm

@ lakedweller2

Was just bickin' 'n moanin' some....

China and 16 mt...go thinking the 'Do What China Does' crowd will be out in force buying tomorrow now; JW hittin' the couple 30% devaluations in our future again loudly in a public post--& rightfully so, as JW should be public post....McCloud, Kranzler, Embry...even Rickards...everybody screaming buy Gold...and now China, again. Sheesh...I was counting pennies, dimes and nickels just yesterday hoping to go Buffalo hunting...and dang if all this China adding stuff could push spot up another $25 and inconvenience me.

Gotta admit I've gotten totally spoiled adding at ridiculously low prices and I'd just as soon keep right on picking up Ag & Au on the even double cheep! 

Burl Ives - Silver & Gold
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