A recent analysis by Jan Nieuwenhuijs, a prominent figure in the Chinese gold market, suggests that the actual gold reserves held by the People’s Bank of China may exceed 5,300 tonnes, significantly surpassing official figures. Nieuwenhuijs proposes that China’s potential accumulation of gold could serve as a significant factor in driving up gold prices, particularly as the nation seeks to safeguard its economy against potential dollar devaluation.
Potential Secret Gold Reserves: China’s Hidden Cache Surpasses 5,300 Tonnes China’s undisclosed gold reserves may far surpass its officially reported figures, according to a recent assessment by Jan Nieuwenhuijs, an expert in the Chinese gold market. Nieuwenhuijs suggests that the People’s Bank of China (PBOC) could be concealing an estimated 5,300 tonnes of gold, a substantial amount that exceeds the figures publicly disclosed by the institution.
This clandestine reserve calculation is derived by subtracting officially reported acquisitions from data provided by the World Gold Council. Industry experts consulted by Nieuwenhuijs indicate that much of this surplus gold may be amassed by the central bank.
Applying this methodology, Nieuwenhuijs estimates China’s actual gold reserves to stand at approximately 5,358 tonnes, a stark contrast to the 2,250 tonnes officially acknowledged by the PBOC.
Moreover, Nieuwenhuijs suggests that this increased demand, coupled with the growing interest of Chinese investors who are turning away from traditional investment avenues such as real estate and stocks, has become a significant driving force behind the upward trajectory of gold prices.
China’s persistent purchasing of gold over the past 15 months may indicate preparation for an anticipated devaluation of the U.S. dollar, coupled with potential geopolitical tensions. Jan Nieuwenhuijs forecasts a surge in gold prices as a result, fueled by Western investors responding to similar concerns about the U.S. dollar’s stability. This convergence of factors could create a significant surge in demand for the precious metal, leading some analysts to predict prices reaching as high as $2,600 per ounce, according to CoinFactiva.
