The exact amount of gold held by China’s central bank, the People’s Bank of China (PBOC), is not publicly disclosed, which has led to speculation and uncertainty about the accuracy of China’s gold holding figures. The PBOC last reported its official gold reserves in 2016, stating that it held 1,842.6 metric tons of gold. Since then, the bank has not released any updates on its gold reserves.
There has been some speculation that China’s true gold reserves may be larger than what is publicly reported. Some analysts have pointed to China’s significant gold production, which has been steadily increasing over the past several years, as a possible indication that the country is stockpiling more gold than it officially reports. Additionally, some experts have suggested that China may be accumulating gold through private purchases or acquisitions, rather than through the official channels that are typically used to add to central bank gold reserves.
However, without concrete data from the PBOC, it is difficult to verify the accuracy of China’s official gold holding figures or to estimate the actual size of China’s gold reserves.
Is it possible that China holds more gold than the US
It is unlikely that China currently holds more gold than the United States, based on publicly available data. As of 2021, the United States holds approximately 8,134 metric tons of gold reserves, making it the world’s largest holder of gold reserves. The last time that China officially reported its gold holdings, in 2016, it had 1,842.6 metric tons of gold in reserve, which is less than a quarter of the amount held by the United States.
While it is possible that China may have increased its gold reserves since 2016, as I mentioned earlier, the exact amount is not publicly known. Therefore, it is difficult to make an accurate comparison between the gold holdings of China and the United States.
Most believe China’s stockpile has increased significantly since 2016 and if/when they release their true number it may make them in the top 1 or 2 spots on this list.
With rumors circulating about China considering backing its currency with Gold, it would follow that they have significantly more than the word believes.