The march of real gold to China continues

Posted | 04/11/2013 / Views | 1476
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Figures for September imports of gold to China just came out and reinforce what we reported last week with the massive conversion of LBMA 400oz bars (used by ETF’s and COMEX) to 1kg bars in Switzerland being sold into China.  September saw another 109.4 tonne of gold enter China through the Hong Kong exchange.  Down only 0.8t on the last month it was the 5th largest monthly import figure on record.  That keeps them on track to an incredible 1000t for the year.  Another  thousand tonne held by strong long term hands in the world’d 2nd largest economy by a regime openly questioning the sustainability of the US dollar.