What do we know beyond the gossip about the precious metals holdings on Chinese commercial bank balance sheets?
From studying the annual reports of the respective banks and additional documentation we know the precious metals can be at least the following things (if I find more clues this post will be updated):
- Gold savings that belong to the banks’ customers
- Gold inventory for the banks’ retail gold business
- Gold leasing business
- Gold held for hedging purposes
- Gold held outside China
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