Email of the day (4)
Comment of the Day

November 28 2012

Commentary by Eoin Treacy

Email of the day (4)

on Chinese gold holdings:
“Interesting couple of articles here - http://screwtapefiles.blogspot.co.uk/2012/10/database-confirms-max-keiser-guest.html and here - http://screwtapefiles.blogspot.co.uk/2012/11/chasing-chinese-bars.html looking at what evidence there is of Chinese gold in the outside world.

“It would seem China 's (not inconsiderable) gold production is staying in China .”

Eoin Treacy's view Thank you for these links which highlight a point that has cropped up from time to time over the last few years. China is the world's largest consumer and producer of gold. It makes sense that it would hold onto more of its supply rather than pay for even more imports. There is evidence to support this theory since it revised it holdings upwards a few years ago and explained that it had been sequestering domestic supply in order to do so. Nothing has occurred to suggest that its policy has changed.

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