Commodities
China's Gold Rush: Accelerating Pace Puts US Reserves at Risk
China's gold reserves may be closer to surpassing those of the United States than previously thought. According to BMO Capital analysts, China could match or exceed U.S. gold reserves within five years if its current pace of accumulation continues.
Officially, the U.S. holds 8,133 tonnes of gold, while China claims only 2,346 tonnes. However, research by Money Metals analyst Jan Nieuwenhuijs estimated that China secretly purchased 570 tonnes of gold in 2024, despite officially reporting an increase of just 41 tonnes.
Similar discrepancies have been identified by Goldman Sachs and the Financial Times, suggesting China's actual gold reserves could exceed 5,000 tonnes, more than double its reported holdings.