You are here
Jan Nieuwenhuijs: China's gold conduit revealed, shows central bank did not stop buying in May
2:17p ET Monday, July 29, 2024
Dear Friend of GATA and Gold:
People who still believe official central bank data about gold reserves may do well to read today's analysis from gold researcher Jan Nieuwenhuijs, who examines customs export data from the United Kingdom, where the major physical gold market is located, and discovers that plenty of gold was shipped to China in May even as the People's Bank of China was saying it had paused its gold purchases.
... Dispatch continues below ...
... ADVERTISEMENT ...
Are you ready to safeguard your assets using precious metals?
Hero Bullion is a precious metals dealer with an extensive inventory of competitively priced gold, silver, and platinum products.
We didn't get into this business just to sell metals. Our goal is to educate investors to help them make sounder financial decisions. For four years we have focused on educational resources, competitive prices, and reliable, secure shipping.
Check out our reviews. Hero Bullion is quickly becoming a favorite of customers all over the country. We're committed to helping you cut through the hype and build your portfolio with high-quality, affordable precious metals.
Visit us here: www.herobullion.com
Hero Bullion: Gold and silver simply delivered
Nieuwenhuijs writes: "'Unreported' PBoC gold purchases exploded when $300 billion in foreign exchange reserves from the Russian central bank were frozen by the West early 2022 due to the war. Notably, the UK began exporting 400-ounce bars to China in huge tonnages at the same time.
"Coincidence? I think not. Ever since then China has taken over gold price control from the West and broken the gold price's correlation with 'real rates.'"
The UK export data, Nieuwenhuijs adds, indicates that "UK gold exports to China are destined for the PBoC -- although probably not every ounce of these flows is for the Chinese central bank. Clearly, the PBoC is accumulating more gold than it wants to disclose."
Nieuwenhuijs' analysis is headlined "PBoC Gold Conduit Revealed -- Chinese Central Bank Did Not Stop Buying Gold in May" and it's posted at the Gainesville Coins internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 20-23, 2024
https://neworleansconference.com/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
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:
To contribute to GATA, please visit:
