Willem Middelkoop, author of *The Big Reset*, argues China prefers lower gold prices to accumulate more, contrary to perceptions of driving prices up. He claims China bought over 150 tonnes of gold in June, far exceeding official reports. Middelkoop asserts a monetary reset is already underway, with central banks globally, especially in Asia, quietly increasing gold reserves. This shift is reflected in gold’s rise to $4,000 per ounce and its status as the second-largest reserve asset, surpassing U.S. Treasuries.

Middelkoop highlights China’s dual strategy of state and private sector gold accumulation, estimating 50,000 tonnes held since 2008. He links this to a broader trend where gold moves from Western to Eastern markets, evidenced by U.S. gold exports hitting record $17.88 billion in February. He also predicts silver could reach $500 due to undervalued miners and the gold-silver ratio.

Middelkoop dismisses U.S. skepticism, noting Washington values its gold holdings at outdated prices. He warns that a full reset could push gold to $14,000–$15,000, driven by central banks and geopolitical shifts. His views align with Deutsche Bank’s report framing gold as a reserve priority. China’s recent restrictions on retail gold trading are seen as promoting physical ownership, not a crackdown.