Posted by Musang King > 2 weeks ago | Report Abuse

Remember, China did failed to pay Trillions of GOLD LOAN BONDS during the WW1 when China was so poor then. Until now, those Chinese Treasury Bonds are still unpaid and un-redeemed even that China is so Rich now. Maybe , USA is using this as one of the reasons to pressure China to pay up those DEFAULTED TREASURY BONDS and OFFSET them against the US Current Treasury Bonds due and payable. Everything is possible.

Posted by masterus > 2 weeks ago | Report Abuse

African and Middle Eastern Nations Withdraw Gold Reserves Amid American Economic Concerns

ByJillian Bennett
APR 24, 2024

Posted by masterus > 2 weeks ago | Report Abuse

In a move reflecting growing concerns over the stability of the American economy, several African and Middle Eastern nations have begun withdrawing their gold reserves from the United States in recent months. This trend marks a significant shift in global economic dynamics and underscores the increasing skepticism among nations regarding the traditional safe haven status of the US dollar and American financial institutions.

The decision to repatriate gold reserves is not merely symbolic; it reflects a deeper unease among these nations about the trajectory of the American economy. Among the countries taking such actions are Nigeria, South Africa, Ghana, Senegal, Cameroon, Algeria, Egypt, and Saudi Arabia, each representing crucial regions in Africa and the Middle East. Their actions are prompting questions about the future of the US dollar as the world’s primary reserve currency.

Posted by ahbah > 1 week ago | Report Abuse

As of March 2024, China’s gold reserves stand at approximately 2,257 metric tons1. While this makes China one of the largest holders of gold among central banks, its 4% allocation of gold relative to its total reserves is still below the threshold maintained by central banks in developed countries2.

For context, let’s explore the gold reserves of a few other nations:

United States: The U.S. holds the largest gold reserves globally, with 8,133 metric tons. This constitutes approximately 76% of its foreign reserves3.
Germany: Germany has the second-largest gold reserves, totaling 3,362 metric tons. Gold accounts for about 73% of its foreign reserves.
Italy: Italy holds 2,451 metric tons of gold, representing around 71% of its foreign reserves.
India: India’s gold reserves amount to 846 metric tons, making up approximately 7% of its foreign reserves.
Netherlands: The Netherlands holds 801 metric tons of gold, constituting about 62% of its foreign reserves.
In summary, while China’s gold reserves are substantial, it remains prudent to consider the allocation strategies of other nations when assessing its position in the global gold market.

Posted by ahbah > 1 week ago | Report Abuse

According to the World Gold Council’s 2023 survey, 24% of central banks intend to increase their gold reserves in the next 12 months. This reflects a favorable view of gold as an important component of central bank reserves due to its safety, liquidity, and return characteristics1. Additionally, central banks globally have been accumulating gold reserves at a pace not seen since 1967, indicating a renewed interest in this precious metal.