China Poised to Overtake US as World's Largest Gold Reserve Holder
China's gold reserves may surpass those of the United States within five years, according to analysts at BMO Capital. The US officially holds around 8,133 tonnes of gold in its reserves, but the government has not conducted a comprehensive audit, leaving uncertainty about the actual amount.
The People's Bank of China (PBOC) officially reports holding 2,346 tonnes of gold, but estimates suggest it may hold significantly more. Nieuwenhuijs's analysis of formal and informal sources indicated that as of the end of 2024, the PBOC was sitting on more than 5,000 tonnes of monetary gold, over twice what they publicly admit.
BMO analysts estimate the PBOC holds around 5,200 tonnes of monetary gold, which represents about 13% of the total above-ground gold supply. Given the accelerated pace of buying, China could surpass the US in gold reserves in less than five years, according to BMO analysts.