China Is Buying Massive Amounts Of Gold & Silver And Dumping Dollars

Alasdair Macleod: Goodbye to Western paper. Moving in plain sight, China has set up a new market in Hong Kong ready to take over from London and New York when the dollar dies.

China Is Buying Massive Amounts Of Gold & Silver And Dumping Dollars
Now to today…
Having shaken out the speculators, the PBOC and China’s commercial banks have taken the opportunity to acquire significant quantities of bullion. In 2026 up to May, China imported 692 tonnes of non-monetary gold, with May’s figure of 163 tonnes the highest monthly total for over a year. We have yet to see June’s total but there’s every reason to believe that this rate of gold imports has continued.

Monetary gold is not recorded in customs figures. So far this year, this has amounted to an additional 40 tonnes to end-June, representing sales of foreign currencies by the PBOC, almost all dollars, to the tune of about $60 billion. But that’s not all. She also imported 1,626 tones of silver in Q1, selling a further $4 billion. Add in the non-monetary gold, ridding the banks of a further $100bn up to May.

Drain it…. Paper pusher helping the east drain the physical. The lower the prices the more physical they get for the dollars they unload.