You are here

Mark O'Byrne: Other Chinese govt. agencies have been buying gold too

Section: Daily Dispatches

2:45p ET Monday, July 20, 2015

Dear Friend of GATA and Gold:

GoldCore's Mark O'Byrne notes today that the People's Bank of China, whose updating of its gold reserves Friday disappointed the gold market, isn't the only Chinese government agency that has been buying gold in recent years. For the State Administration of Foreign Exchange and the China Investment Corp. have been buying gold as well, O'Byrne notes.

O'Byrne writes: "It is likely that in total and between the three financial institutions, China may in fact be holding between 3,000 tonnes and 6,000 tonnes of gold" and thus be much closer to the United States in gold reserves than is generally understood. O'Byrne's analysis is headlined "China's Total Gold Holdings Much Higher -- Owns Gold In SAFE and CIC" and it's posted at GoldCore's Internet site here:

http://www.goldcore.com/us/gold-blog/chinas-total-gold-holdings-much-hig...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



ADVERTISEMENT

Silver Coins and Rounds with Employee Pricing and Free Shipping

Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.

Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page.

This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.

So go to --

http://MoneyMetals.com

-- and type "GATA" in the radio box at the top of the page.



Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

The Silver Summit and Resource Expo 2015
Hyatt Regency Hotel, San Francisco
Monday-Tuesday, November 23-24, 2015

http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2015

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16