China Doesn’t Stockpile More Gold In April | The Mesh Report

China Doesn’t Stockpile More Gold In April

Mike Hammer May 8, 2017 Comments Off on China Doesn’t Stockpile More Gold In April

On Sunday China’s central bank reported they did not add any gold to their reserves during April.  For some reason your friendly Gold Enthusiast does not believe this.  Is it because for decades China refused to report their gold reserves?  Or because when they finally did, it turned out they under-reported by at least a factor of two?  (As they themselves admitted years later.)  Or because for years reports of Chinese gold production (via mining), plus imports, less commercial and civilian uses didn’t add up?  In any case, it’s doubtful the Chinese added a lot to their strategic reserves, and there probably won’t be a reaction to this news in gold prices today.  So this monday-morning-fuzzy-minded Gold Enthusiast will go back to his morning cuppa and look for other things that might move this market.

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