Are the Chinese Stockpiling gold?
Duncan Richardson, News Editor
12 Feb 2014, 10:02 a.m.
A 500 tonne gap in China’s gold consumption figures has sparked speculation that Chinese central bank took advantage of last year’s price drop to stock up on gold.
The latest consumption data would indicate that China produced and imported far more gold than what was consumed by their citizens, which has led to speculation that the remainder was bought by the central bank.
The last time the Chinese central bank updated the markets on their gold holdings was way bank in 2009.