China's Gold Hoard: Beijing Quietly Acquires 'Far More' Gold Than Official Reports Suggest

Scott Bessent, former Treasury Secretary, made headlines in 2023 by predicting that China could develop a gold-backed Renminbi to bypass the U.S. dollar system.

Now, new data reveals that China has quietly acquired 'far more gold' than official reports suggest, with an estimated 88 tonnes acquired in May and June alone, which is substantially higher than official state figures.

This accumulation coincides with Bloomberg data showing China steadily liquidating its U.S. Treasury holdings down toward $633 billion while expanding its gold reserves.

China's strategy mirrors Bessent's warning that nations facing geopolitical friction would move reserves out of Western fiat debt and into physical gold held within their own borders.