A leading gold market analyst has sounded the alarm over China’s alleged secret accumulation of gold reserves. Jan Nieuwenhuijs claims the People’s Bank of China (PBOC) has amassed over 100 tonnes of gold through clandestine London gold imports during the fourth quarter of 2024.
Unreported Imports Raise Concerns
Nieuwenhuijs’ warning centers around unreported London gold imports, which he believes have contributed significantly to China’s growing gold reserves. These transactions allegedly took place without being disclosed to the public or recorded by official channels.
Potential Impact on Global Markets
The implications of such a large-scale accumulation could be far-reaching, potentially influencing global markets and prices. The secrecy surrounding these transactions may also raise questions about transparency and accountability within international financial systems.
Experts Weigh In
While some experts have expressed skepticism about Nieuwenhuijs’ claims, others see this as an opportunity for China to diversify its foreign exchange reserves and reduce reliance on US dollar-denominated assets.
Conclusion
As the world waits with bated breath for confirmation from Chinese authorities, one thing is certain – the stakes are high, and investors will be closely watching any developments that may impact global gold markets.
Source: News.bitcoin.com
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