From the moment China became an elephant player in the physical market – selling gold is a one way street!
Western sell-offs are shipped to China but do not return
.
The global gold game has changed.
This will TURBO CHARGE the ramp up in the price of gold the next time the West shows interest in the metal…

gold barsRecently, the Bundesbank has claimed that its gold reserves have been audited:

“The gold reserves have been subject to several audits by Deutsche Bundesbank with fully satisfactory results. However, we cannot provide any details, since Deutsche Bundesbank and its partner central banks have agreed to maintain confidentiality with regard to the audits.”

The disdain with which the Bundesbank treats enquires about its gold policies and activities highlights its total non-accountability to the public and its lack of transparency.

gold vaultThe US Treasury, on behalf of the US Government, claims to own 261,498,926.230 fine troy ounces of gold, which is equivalent to 8133.5 tonnes of gold.
The reason for emphasizing that these gold reserves are “claimed” to be stored where the US Treasury says they are stored is that none of the US gold reserves has ever been independently physically audited…

ChinaGFMS has denied all allegations about their incomplete Chinese gold demand statistics by continuously making up false arguments.
Therefore, we will debunk, once and for all such arguments spread by GFMS – which are supposed to explain how from January 2007 until September 2016 the difference between GFMS’ Chinese gold demand and apparent supply reached over 4,500 tonnes – in order to expose true Chinese gold demand:

China-GoldIn the detailed analysis below, Koos Jansen provides more proof the “precious metals assets” on Chinese commercial bank balance sheets have little to do with the “surplus” gold in China’s domestic market:

china-shanghaiIn 2013 we’ve witnessed the inception of the Chinese gold ETF market.   At first demand for the gold ETFs was neglectable, as investors mostly preferred to buy physical gold directly at the Shanghai Gold Exchange (SGE) or buy jewelry or investment bars through retail channels.
This year, however, there has been a major shift in gold ETF demand in China…

China goldFor China, gold’s strategic mission lies in the support of renminbi internationalization, and so let China become a world economic power and make sure that the China Dream is realized… gold forms the very material basis for modern fiat currencies. 
Gold is the world’s only monetary asset that has no counter party risk.
That is why, in order for gold to fulfill its destined mission, we must raise our gold holdings a great deal…

gold bars knoxMy first Freedom Of Information Act (FOIA) request submitted in 2015 at the US government asked for delivery of all audit reports drafted by the Committee for Continuing Audit of the U.S. Government-owned Gold from 1975 until 1986. Stunningly, the OIG couldn’t find all the documents – nor did the National Archives, the Government Accountability Office or the Treasury.
The OIG only had three of the audit reports in question archived.  Something was awfully wrong here…