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| Chart 1: China Gold Imports from Hong Kong |
I say: "Follow the money!"
Tuesday, 5 February 2013
December 2012 China Gold Imports Hit Record Level
Posted on 14:36 by Unknown
As predicted here, China bought gold like there was no tomorrow in December 2012 as gold prices fell to a record low. They bought 114.4 tonnes. I believe January will be a good month too.
Net imports were 84.7 tonnes. That's 84.7/114.4 = 74%. That's a record high, even higher than the 68% in November 2012. This means China isn't even trying to export its gold to Hong Kong anymore. It's scooping up all the gold they produce!
I say: "Follow the money!"
I say: "Follow the money!"
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