Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 07/28/2026 6:23:02 AM PDT by delta7
GFN – BEIJING: China imported about 173 tonnes of gold in June, the highest monthly total since March 2024 and the third straight monthly increase, according to Bloomberg and Chinese customs data.
Ironically or not, this is after the western media has been pulling its hair out, saying that China has made retail purchases of gold illegal due to its deleveraging of trading on the SGE.
The June increase pushed China’s gold imports for the first half of 2026 to roughly 820 tonnes. That was nearly double the total from a year earlier and the second-highest first-half figure on record, just below the record of about 830 tonnes set in 2025.
The rise was driven by investors buying after international gold prices fell and by banks rebuilding inventories to meet strong retail demand. A stronger yuan also made imported gold cheaper for Chinese buyers.
Banks increased shipments to support sales of physical bullion and gold savings plans. China’s gold-backed exchange-traded funds have also attracted about 28 tonnes of inflows so far this year, showing that investment demand remains strong.
The data shows Chinese buyers used the recent price decline as an opportunity to add gold rather than step away from the market.
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
Industry observers believe they will soon announce a Yuan backed by a percentage of physical Gold.....much like the U.S. had before 1971. Cycles repeat.
WHO IS SELLING????
Gold companies, probably.
China is likely using a shell game of some sort to acquire the gold.
Only an idiot would trust the Chinese Communist Party and their Yuan even with tons of gold
FTFY
I don't think you'll see any sovereigns anywhere implement a gold standard. It would simply preclude their existing ability to 'tax' by printing money. From the government's perspective, there is no advantage to money backed by gold. Money that is actually backed by gold is a benefit to the people, not the state.
Investors can't get their money out of China now, you really think anyone is going to trust them to redeem paper for specie? C'mon, man...
All the gold in California, from a bank in the middle of Beverly Hills, in somebody else’s name. These transactions are covered by “paper gold”, a certification that there is, somewhere, maybe, an actual pile of gold sitting on a pallet.
Nobody seems to know just where that pile is, though.
The people who bought their oil that they have in reserves. They would only take gold for the oil
Hoarding gold is the tried-and-true recipe for long term government prosperity.
Just ask Spain.
Despite the record high prices, Chinese people by hook or crook want to personally hold gold. They do not trust the communist party controlled banks or even their currency. Good news for American and Canadian gold miners big and small.
Remember the Chinese Communist Party is never up to anything good
Canada’s Carney supports the Chinese Communist Party 100% , he want the New World Order
Is it gold from Ft. Knox? I suspect The Fort has been emptied of its gold. No proof of it exists at this time, only the word of Scott Bessent.
“No comprehensive, independent audit of Fort Knox has occurred since 1953, despite recent high-profile demands for verification.
In early 2025, President Donald Trump advocated for a full audit, with legislation like H.R. 3795 introduced to mandate an independent review every five years. However, by mid-2026, the initiative stalled after Treasury Secretary Scott Bessent assured the public that the gold is ‘present and accounted for,’ leading to a lack of further action on the proposed bills.”
Then show us the gold, Scott.
While true, you could say similar about the non-Federal Federal Reserve.
I was there in 1977. There was a lot of gold in Fort Knox at that time.
Joint Treasury and GAO audit. I guess that isn’t “independent”, but there were ongoing audits every year starting in 1975 IIRC going into at least the early 1980s.
Just ask Spain.
Their problem was the government took on debt faster than it plundered silver and gold.
It's still a lesson for this country:
Expensive Military Campaigns: Funding wars against the Dutch rebels, England, France, and the Ottoman Empire drained royal funds faster than treasure fleets could sail.
Anticipated Borrowing (Asientos): Monarchs spent incoming American silver before it even arrived, using future shipments as collateral for massive loans from German, Genoese, and Italian bankers.
Structural Deficits: Domestic tax exemptions for the nobility and clergy left the burden on commoners, while domestic industries collapsed due to inflation and reliance on foreign imports
All too familiar, really...
The price of gold is down 28% since 28-JAN-2026.
$5,586 down to $4,025 - 28-JULY-2026
The price of Bitcoin is down 50% - since its all time high of $126,000 in October 2025.
LOL - So much for the "Store House of Value" theory!
“Those following closely ( Lanci, ...”
Interesting. Apparently you don’t follow Lanci.
Lanci said in Dec 2025 that silver at $75 was over bought while you were saying this last January to sell everything and buy silver at $121.
You were buying silver when Armstrong was predicting a crash. Why did you go against these experts?
https://youtu.be/nfB8NCRDq4g?is=92JXvf3DntcedasE
James Bond to Auric Goldfinger: “I apologize, Goldfinger. Your plan is inspired.”
Apparently the idiot who wrote this doesn’t know there are three different standard tons, the long tonne (which once was the standard English tonne, 2,240 pounds avoirdupois, 1016 kilograms), the short tonne (the standard US ton, 2000 lbs advp, 907.2 kg), and the metric ton (1000 kg, 2,204.6 lbs avdp). And he doesn’t bother to denote which “tonne” he is referring to.
There is no ‘tonne’ in the troy system but at today’s spot the difference between the heaviest and the lightest of these is a bit more than $14 million USD.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.