The Gold-Backed-Oil-Yuan Futures Contract Myth

BullionStar Blogs Koos Jansen Posted on 15 Oct 2017 by Koos Jansen   On September 1, 2017, the Nikkei Asian Review published an article titled, “China sees new world order with oil benchmark backed by gold”, written by Damon Evans. Just below the headline in the introduction it states, “China […]

Estimated Chinese Gold Reserves Surpass 20,000t

Posted on 29 Jul 2017 by Koos Jansen  at   https://www.bullionstar.com/blogs/koos-jansen/estimated-chinese-gold-reserves-surpass-20000-tonnes/ My best estimate as of June 2017 with respect to total above ground gold reserves within the Chinese domestic market is 20,193 tonnes. The majority of these reserves are held by the citizenry, an estimated 16,193 tonnes; the residual 4,000 […]

Did The Dutch Central Bank Lie About Its Gold Bar List?

Posted on 23 Jul 2017 by Koos Jansen at https://www.bullionstar.com/blogs/koos-jansen/ Head of the Financial Markets Division of the Dutch central bank, Aerdt Houben, stated in an interview for newspaper Het Financieele Dagblad published in October 2016 that releasing a bar list of the Dutch official gold reserves “would cost hundreds of thousands of […]

Bullion Star – Summer of 17: LBMA Confirms Upcoming Publication of London Gold Vault Holdings

Posted on 9 May 2017 by Ronan Manly Just over a week ago I wrote an article highlighting that the Bank of England has begun publishing monthly data on the total quantity of gold bars held within the Bank of England vaults in London. See “Bank of England releases new […]

US Mint Releases New Fort Knox “Audit Documentation”. The First Critical Observations.

Posted on 26 Feb 2017 by Koos Jansen In response to my FOIA request the US Mint has finally released reports related to the physical audits of the US official gold reserves drafted from 1993 through 2008. However the documents released are incomplete and reveal the audit procedures have not […]

China Net Imported 1,300t Of Gold In 2016

Posted a BullionStar by Koos Jansen For 2016 international merchandise trade statistics point out China has net imported roughly 1,300 tonnes of gold, down 17 % from 2015. The importance of measuring gold imports into the Chinese domestic gold market – which are prohibited from being back exported – is […]

How The West Has Been Selling Gold Into A Black Hole

Kindly be advised to have read my posts The Mechanics Of The Chinese Domestic Gold Market and The Great Physical Gold Supply & Demand Illusion before continuing. In December 2016 Chinese wholesale gold demand, measured by withdrawals from the vaults of the Shanghai Gold Exchange (SGE), accounted for 196 tonnes, […]

Central Bank Gold Policies – People’s Bank of China

Since the early 2000s, China’s central bank, the People’s Bank of China, has pursued an ambitious gold accumulation strategy which has seen its officially reported gold reserves increase from less than 400 tonnes of gold to over 1800 tonnes. There is much secrecy surrounding many aspects of the Chinese gold […]

Infographic: Gold ETF Mechanics

Gold-backed Exchange Traded Funds (ETFs) are a product class that has grown rapidly in recent years. The financial media regularly reports on the gold holdings within these products, and the customer bases of these ETFs include both institutional and retail investors. But what exactly are the mechanics of these products, […]

China’s Gold Market Opens Up To Boost RMB Internationalization

Posted on 24 Dec 2016 by Koos Jansen https://www.bullionstar.com/blogs/koos-jansen/chinas-gold-market-opens-up-to-boost-rmb-internationalization/ Last week the Shanghai Gold Exchange (SGE) launched a new English website to offer international customers more information and tools on trading gold in renminbi through its subsidiary in the Shanghai Free Trade Zone the Shanghai International Gold Exchange (SGEI). BullionStar […]

Central bank Gold Policies – US Treasury

Introduction The US possesses the largest reported monetary gold reserves in the world at 8,133.5 tonnes. These reserves are owned by the US Treasury and are predominantly stored in the custody of the US Mint and to a small extent in the custody of the New York Federal Reserve. All US […]

NOVEMBER: Gold Price Down, Chinese Demand Strong Despite Import Curbs

From the moment Donald J. Trump got elected as the next President of the United States, on November 8, 2016, the price of gold tumbled 8 % in the remainder of the month – from $1,282 USD/oz to $1,178 USD/oz. Usually these cascades in the gold price go hand in hand with […]

Gold In London & Hong Kong Is Used To Settle COMEX Futures

Physical gold located in Hong Kong and London is used to settle COMEX gold futures contracts through “Exchange For Physical” trading in the over-the-counter market. This post is a sequel to Understanding GOFO And The Gold Wholesale Market and COMEX Gold Futures Can Be Settled Directly With Eligible Inventory – […]

Debunking GFMS’ Gold Demand Statistics

What came to light as on odd discrepancy between GFMS’ Chinese gold demand and “apparent supply” has proven to be a tenacious cover-up by the oldest consultancy firm in the gold market. And not only does GFMS publish incomplete and misleading data on Chinese gold demand, all its supply and demand […]

Bullion Banking Mechanics

Contemporary bullion banking operates as a fractional reserve gold banking system in which paper gold is created out of thin air in a similar way to how commercial banking creates cash out of thin air. The ability of bullion banking to operate in this way is facilitated by the dominance […]

The Value-added Tax System In China’s Domestic Gold Market – Bullionstar

Important for a thorough understanding of the Chinese domestic gold market – the largest physical gold market globally – is the local Value-added Tax (VAT) system. In the Gold Survey 2016 by Thomson Reuters GFMS there is a complex illegal scheme described whereby criminals obtain VAT invoices from the Shanghai […]

Bullion Star – Central Bank Gold Policies – Deutsche Bundesbank

Central bank Gold Policies – Deutsche Bundesbank Deutsche Bundesbank Introduction Germany’s central bank, the Deutsche Bundesbank, holds the world’s second largest official gold reserves, with claimed holdings of 338x tonnes, stored over four locations. Of all central bank gold holders, the Bundesbank has probably generated the most interest and attention […]

Q1 – Q3 2016 China Net Gold Import Hits 905 Tonnes

Withdrawals from the vaults of the Shanghai Gold Exchange, which can be used as a proxy for Chinese wholesale gold demand, reached 1,406 tonnes in the first three quarters of 2016. Supply that went through the central bourse consisted of at least 905 tonnes imported gold, roughly 335 tonnes of […]

Synthetic Gold Leasing: More Details Regarding The “Precious Metals” On Chinese Commercial Bank Balance Sheets.

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. One of the topics about the Chinese gold market that has not been fully illuminated is the “gold” on the 16 Chinese commercial banks’ balance sheets. At the end of 2015 […]

Dear US Mint, We Gave You The FOIA Funds, Now Give Us The Fort Knox Audit Documents!

Interim research update. As readers might have saw on these pages, since 2014 I’ve been investigating the inventory audits of the US official gold reserves, which should proof the existence of the metal that embodies the credibility of the world reserve currency. My first article showed the official narrative: all the bars […]