Nov 5, 2012
While Western central banks have frittered away their gold, China is quietly building up its reserves.
China is the world’s largest gold producer.
And yet – according to various sources – gold bullion brokers have not seen any gold coming from China.
In other words, China is producing more gold than any other country, but isn’t exporting any of it.
In addition, china is importing huge amounts of gold.
As such, China is quietly becoming a gold superpower.
Note: China has a habit of being quiet for several years at a time, and then announcing big increases in gold holdings. So quoting old numbers will only mean that one is caught flat-footed as to China’s current holdings.
This article was posted: Monday, November 5, 2012 at 6:14 am