Behold, the Middle Kingdom has cast aside its American securities, embracing the gleam of gold with the fervor of a poet enamored with verse. 🌏💰✨
As per the latest revelations from the American Treasury, the Dragon’s hoard of T-Bills has dwindled by a mere $900 million—a figure that seems almost trivial in the grand scheme of things. A mere $900 million? How quaint! 😂
This sale marks the third consecutive month of the Dragon’s retreat from American bonds, a trend that has left many observers scratching their heads. Is this a sign of shifting tides or mere coincidence? 🤔
Meanwhile, whispers circulate that the Dragon’s appetite for gold is far greater than what the public records suggest. A secret ballet of bullion, perhaps? 🕵️♂️
Stefan Gleason, the esteemed president of Money Metals, opines that the Dragon’s discretion in gold acquisitions is a shrewd move. “After all, it’s not in the interest of any discerning buyer to make their purchases more costly than necessary,” he quips, with a wink and a nod. 🤭
“Given how much gold it’s buying, it’s quite sensible for China to limit public disclosures where possible… After all, it’s not in the interest of any bona-fide buyer to take actions that make its purchases more expensive than they need to be.”
Joseph Cavatoni, the market strategist at the World Gold Council, notes that there is ongoing debate over whether the PBOC’s reported purchases fully capture its activity. One might say the PBOC is playing a game of hide and seek with the truth. 🕵️♀️
The analyst also admitted that there is “always the case that maybe more is going on than is reported.” A charming ambiguity, if you ask me. 🤷♂️
And Jan Nieuwenhuijs, an analyst at Money Metals, says that China’s gold holdings are likely more than double what is officially reported. “In reality,” he muses, “the PBOC’s vaults may hold a staggering 5,065 metric tons of gold, a figure that dwarfs the reported 2,280 metric tons.” 🧮
“China [is] importing much more gold than what is sold in the private market through the Shanghai Gold Exchange, and what industry insiders have shared with me over the years.”
The latest data from the World Gold Council reveals that China’s gold reserves amount to a mere 2,296 tonnes, valued at over $247 billion. A tidy sum, one might say, but surely not the end of the story. 💰✨
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2025-07-21 17:42