Courtesy of Mineweb, Lawrence Williams gives a basic peek into the PRC gold market. The People's Bank has settled on a policy of buying domestically-produced gold, which not only encourages PRC gold producers but also makes PRC-bank gold buying less obvious. The central bank is crowding out private buyers to an unknown extent, which means that the world's #1 gold producer may be importing gold right now.
Mentioned in passing is a shoe that's still on the table: the IMF gold that's still up for sale. Close to 200 tons still remains unsold.
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