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AAAU - Does The PBoC Store Gold At The Fed In New York?
Goldman Sachs Physical Gold ETF
Rumors are making rounds the Chinese central bank stores gold at the Federal Reserve Bank of New York. If true, this would be crucial in the trade war between the U.S. and China. However, according to my analysis, it's false.
An old rumor resurfaced in May 2020 on news outlet the Global Times. A Chinese analyst consulted by the Global Times states the People's Bank of China (PBoC) has some of its gold stored at Federal Reserve Bank of New York (FRBNY). From the Global Times: