Published On: Mon, Jul 20th, 2015

China’s Been Hoarding Gold And It Isn’t Likely to Stop

Chine gold mystery ends

China gols mystery endsWith China finally coming clean that it’s been the second-biggest buyer of gold over the past six years, analysts and traders say the purchases will continue.
In the first update since 2009, the People’s Bank of China said on Friday that it owns about 1, 658 metric tons, implying purchases of 100 tons a year. The stockpile may eventually reach more than 5, 000 tons, according to Robin Bhar, an analyst at Societe Generale SA in London.

 

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